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Pacific Online’s operating income up 4% in Q1

Pacific Online Systems Corp. (LOTO), the online lottery system provider of the Philippine Charity Sweepstakes Office (PCSO), said its consolidated net operating income increased by 4 percent to P136 million in the first three months.

In a disclosure to the Philippine Stock Exchange (PSE), LOTO said PCSO sales of Lotto and Keno grew 3 percent to P3.9 billion nationwide in the first three months.

Based on the current trend of PCSO lottery sales, LOTO expects it to reach P16 billion for this year, or an increase of 5.26 percent from P15.2 billion last year.

“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 terminal this year,” Rhederick Inciong, LOTO’s Chief Financial Officer said.

LOTO now has 4,420 terminals selling various lottery games, operated by PCSO.

Its 99 percent owned subsidiary, Total Gaming Technologies, Inc. has 1,321 terminals and sells Keno nationwide for PCSO. The company has been a systems provider of the PCSO since 1996.

– Maricel Burgonio, Manila Bulletin

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