MANILA, Philippines — Gaming-related companies that are supplying lottery equipment and services to the Philippine Charity Sweepstakes Office appealed to President Duterte to reconsider his decision to close down PCSO’s lottery operations.
Shares of these listed gaming equipment providers slumped yesterday after President Duterte ordered Friday the closure of all lottery outlets of PCSO amid massive corruption.
Berjaya Philippines Inc. tumbled 6.51 percent to P2.44 per share.
“The suspension of all gaming activities upon the Philippine Charity Sweepstakes Office (PCSO) will only have an effect on the Issuer if the suspension is extended. Philippine Gaming Management Corp. (PGMC) hopes that the suspension will not be for an extended period of time for the sake of its more than seventy four employees,” Berjaya said in a disclosure.
Berjaya has a 39.99 percent stake in PGMC which is engaged in the leasing of online lottery equipment. It also provides software support.
“PGMC‘s dealings with PCSO has always been above board. PGMC does not hold revenue for PCSO, does not distribute it, is not involved in operations, but is merely the lessor of equipment in the Luzon area,” the company said.
Pacific Online Systems Corp., chaired by businessman Willy Ocier, meanwhile, saw its shares plummet 13.61 percent to P2.54 per share.
“Pacific Online is the lessor of the online lottery system being used by PCSO for its lotto operations in Visayas and Mindanao, while its subsidiary, Total Gaming Technologies,Inc. (TGTI), is the equipment lessor for PCSO’s Keno game nationwide,” Pacific Online said.
It said that it still has no information on the suspension of PCSO’s gaming operations beyond those that have been conveyed through the public statements.
“The corporation, however, has been in constant coordination with the PCSO Management and is fully supportive of the latter’s efforts to seek the President’s reconsideration of his decision,” Pacific Online said.
The company also denied any involvement in corrupt activities with the PCSO.
“The corporation is fully confident that, as a listed company, its transactions with PCSO on both lotto and Keno were entered into in accordance with law, and are above-board and fair,” Pacific Online said.
According to Pacific Online, the suspension on PCSO’s lottery activities will negatively affect its ability to raise funds for its charity works.
“The corporation can only hope that the suspension will be lifted sooner rather than later,” it said.
Likewise, Premier Leisure Corp. (PLC) a subsidiary of Sy-owned Belle Corp. and also chaired by Ocier, saw its shares tumble 4.11 percent to 0.70 per share.
PLC owns 50.7 percent of Pacific Online.