Pacific Online eyes P600M from lotto sales in Vis-Min

Pacific Online System Corp., the supplier of lotto systems and terminals used by state-run Philippine Charity Sweepstakes Office (PCSO) in the Visayas and Mindanao, is eyeing P600 million in sales this year or an increase of 25 percent  from last year’s level.

Company chairman and president Willy Ocier said the PCSO is targeting revenues of P20 billion this year, P6 billion of which will come from Vis-Min.

Pacific Online is expected to account for 10 percent of the projected P6 billion revenues from PCSO’s lottery operations.

Total  PCSO sales reached P4.8 billion in 2007, 16.34 percent higher than the year earlier’s P4.04 billion.

Net earnings are likewise seen to grow 49 percent this year to  P200 million with the addition of 399 more lotto outlets.  This should bring the firm’s total betting station network to 1,800 by end-2008.

Ocier said the sales growth will come from the introduction of new games including the recently-launched Power Lotto, and the new variants of the instant tickets.

Costing P50 per ticket, Power Lotto has a minimum jackpot of P50 million per weekly draw.

Ocier said the group is also expanding its chain of outlets for online betting affiliate Lucky Circle Corp. by yearend from the existing 60 sites.  The expansion of Lucky Circle is estimated to cost between P15 million and P20 million.

Ocier said the new sites for the Lucky Circle outlets will be located in Robinsons Department stores and Gaisano Malls in the Vis-Min.

Pacific Online acquired Lucky Circle in August last year. Lucky Circle aims to retain its leadership in distributing, marketing and selling in wholesale or retail of sweepstakes and lotto tickets.