Pacific Online eyes 16.3% profit hike

MANILA, Philippines - Pacific Online Systems Corp., the online system provider of the Philippine Charity Sweepstakes Office (PCSO) in Visayas and Mindanao, is eyeing a 16.3-percent growth in net earnings this year on the back of new terminal openings and launch of new products.

Willy N. Ocier, chairman and president of Pacific Online, said the company expects to maintain its positive trajectory with its net income seen to increase to P500 million by yearend, from P430 million in 2010.

Revenues are likewise projected to rise 15 percent from P1.2 billion last year.

Ocier said the firm is looking to end the year with a total of 2,000 online terminals with the addition of around 220 new ones. About P300 million has been earmarked for Pacific Online’s expansion program.

“We still believe that the Philippines is still underserved. We need at least 12,000 terminals nationwide to provide a wider coverage of our gaming market,” Ocier said.

“We will continue to work with the PCSO in its mission to increase revenue and come up with new products,” he added.

Pacific Online is an affiliate of Belle Corp., which is building a $1-billion integrated resort complex along Roxas Blvd. to be called Belle Grande. Slated for opening in the first quarter of 2013, Belle Grande Manila Bay is expected to be almost double the size of Resorts World Manila, a luxury casino resort located in Newport City across the Ninoy Aquino International Airport.

Belle also wholly owns Premium Leisure & Amusement Inc. (PLAI), which was granted a provisional license by the Philippine Amusement and Gaming Corp. (Pagcor) to establish a casino to be located within the reclaimed Manila Bay area.

“We are very excited about the gaming investment opportunities offered to the company. We hope to finalize and announce within the month,” Ocier said.

Ocier said the company might set up a new company to take charge of its investment in the casino business.

Pacific Online is looking to post a 20-percent growth in scratch card ticket sales this year from P1 billion in 2010 and expects this to grow further to P2 billion by 2013.