Pacific Online Net Operating Income Hits PhP136M in 1Q

Pasig–(PHStocks)–Pacific Online Systems Corporation (PSE: LOTO), the online lottery system provider of the Philippine Charity Sweepstakes Office (PCSO) in the country, chalked up a consolidated net operating income of PhP136 million in the first three months of the year, 4% above the previous year’s PhP131 million.

Pacific Online expects sales and revenue growth to continue for the rest of the year as PCSO lottery games remain to be popular nationwide and as it adds new terminals this year.

Aggregate PCSO sales of Lotto and Keno, nationwide, handled by Pacific Online hit PhP3.9 billion for the three-month period ending 31 March 2015, up 3% compared to the same period of 2013.

LOTO now has 4,420 terminals selling various lottery games, operated by the PCSO. Its 99%-owned subsidiary, Total Gaming Technologies Inc., has 1,321 terminals and sells Keno nationwide for PCSO.

Based on the current trend of PCSO lottery sales, LOTO expects it to reach PhP16 billion this year. The Company has been a systems provider of the PCSO since 1996.