Pacific Online lotto sales jump 38% in 2 mos on record jackpot
MANILA, Philippines - Pacific Online Systems Corp., the exclusive online lottery system provider of the Philippine Charity Sweepstakes Office (PCSO) in the Visayas and Mindanao, posted a 38- percent jump in lotto sales in the first two months of the year on record sales last month.
In a disclosure to the Philippine Stock Exchange, Pacific Online chief financial officer Rhederick Inciong said year-to-date PCSO lotto sales hit P1.46 billion, largely due to new terminal openings and strong support from the betting public.
In February alone, PCSO lottery sales surged 67 percent to P859.4 million from P513.2 million the same month a year ago. Lotto fever mounted as the jackpot reached P347.8 million – the largest in the history of the country’s lottery.
Improved sales of PCSO’s instant scratch cards and contributions from unit Lucky Circle Corp. also boosted Pacific Online’s financial position.
Lucky Circle sells seven instant scratch games – Mega Money, Fast Cash, Jack En Poy, Gold Rush, Pot of Gold, Red Hot 7’s and Double Dollars – in lotto outlets in SM malls and supermarkets.
Last year, Pacific Online registered profit of P740 million, up 48 percent from the 2007 level. Total PCSO lotto sales in the Visayas and Mindanao reached a record P6.49 billion or 35 percent higher than the P4.79 billion in 2007, mainly due to the addition of 200 lottery terminals.
As of end-2008, Pacific Online had a total of 1,600 lottery terminals in the Visayas and Mindanao. – Zinnia Dela Peña
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