Pacific Online Systems Corp., the exclusive online lottery system provider of the Philippine Charity Sweepstakes Office (PCSO) in the Visayas and Mindanao, registered a 48 percent jump in revenues last year on higher sales due to new terminal openings.
In a disclosure to the Philippine Stock Exchange, Pacific Online said revenues reached P740 million in 2008 compared with only P497 million a year earlier.
Total PCSO lotto sales in the Vis-Min region hit a record P6.49 billion, up 35 percent from P4.79 billion in 2007, mainly due to the addition of 200 lottery terminals. In December alone, sales amounted to an all-time high of P770 million.
“December 2008 sales was our best ever,” said Pacific Online chairman and president Willy Ocier.
He said the company has yet to release its net income results pending the completion of an audit into its financial operations.
PCSO’s Scratch It Instant Tama Tickets project completed its first full year of operations, registering P520 million in sales nationwide.
“The company is very pleased and excited with the performance of the Scratch It Instant Lotto tickets,” said Pacific Online chief financial officer Rhederick Inciong.
Pacific Online handles the marketing and distribution of the Scratch It tickets for PCSO.
As of end-2008, Pacific Online operates a total of 1,600 lottery terminals in Visayas and Mindanao.
Ocier said the company will continue the expansion of wholly-owned unit Lucky Circle Corp., which operates lotto outlets in SM malls and supermarkets, to further augment its revenues.
“We have more than 80 stores all over the country and we will continue to expand and improve our infrastructure to assist PCSO in selling its various lottery products and raise funds for charity,” Ocier said.
Lucky Circle stores sell seven Instant scratch games, namely: Mega Money, Fast Cash, Jack En Poy, Gold Rush, Pot of Gold, Red Hot 7’s and Double Dollars.