Pacific Online expects record sales of P11 billion

MANILA, Philippines - Pacific Online Systems Corp., the online lottery system provider of the Philippine Charity Sweepstakes Office in Visayas and Mindanao, is looking at record sales of P11 billion this year, the highest amount in its history on the back of higher lotto and Keno sales.

Willy N. Ocier, chairman and chief executive officer of Pacific Online, said the company is on pace for a record breaking year with net income seen hitting P450 million, up 15 percent from P392.1 million in 2011 on continuous roll-out of new terminals.

Ocier said sales of lotto and Keno (a gambling game similar to bingo) rose 15 percent in the first nine months of the year to P8.2 billion.

He expects the company to sustain its upward traction with sales seen growing at a brisk pace in the fourth quarter and the months leading to the May 2013 elections.

Pacific Online has been a systems provider of the PCSO since 1996 with a total of 2,500 terminals selling various lottery games.

Its 75-percent owned unit, Total Gaming Technologies Inc., has more than 500 terminals and sells Keno Express Lotto nationwide for PCSO.

Pacific Online earlier signed a deal with the PCSO for the rollout of an additional 600 lottery terminals in its concession area.  This was in line with PCSO’s goal of hitting P30 billion in annual revenues to become one of the major contributors to the government’s coffers.

Pacific Online is partly owned by Belle Corp., which is building a $1 billion casino and hotel complex in the Manila Bay reclamation area.

It also owns a 2.5-percent stake in Leisure and Resorts World Corp.