Quantcast
Latest Stories

PCSO extends Pacific Online’s contract by 2 yrs



Gaming firm Pacific Online Systems Corp. got a two-year extension of its contract to lease its equipment to the state-run Philippine Charity Sweepstakes Office.

In a disclosure, Pacific Online said an extension to the lease agreement, covering April 1 this year to July 31 2015, was signed this week.

“Pursuant to its goal of continuously strengthening its partnership with the PCSO, Pacific Online has offered (and the PCSO accepted the said offer) to reduce the lease rate of online lottery equipment by 22 percent to 7.7 percent,” Pacific Online told the PSE.

Its previous lease fee was 9.85 percent of the gross revenue for each terminal. The reduction of the lease fees for existing terminals and the lower rate approved for the new terminals mean savings for the government.

Pacific Online said it had also agreed to bear the costs of all paper consumables and equipment maintenance for the online lottery operations in Visayas and Mindanao.

Last year, the company reported a 22-percent jump in operating income on the back of record-high PCSO lotto sales. Consolidated operating income in 2012 surged to P562.7 million from P460.3 million a year ago.

The firm’s consolidated net income increased by P26.0 million or 7 percent, to P418.1 million from P 392.1 million a year ago.

Pacific Online said it focused on making PCSO product lines readily available in the market, driving consolidated revenue to P1.63 billion, 21-percent higher than the P1.35 billion seen in 2011.

Pacific Online has about 2,600 terminals in Visayas and Mindanao.Paolo G. Montecillo


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Gaming , lease agreement , Pacific Online Systems Corp. , PCSO



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Nebraska toddler gets stuck inside claw machine
  • Philippine eagle rescued by Army turned over to DENR
  • Gunmen attack Iraq military base, kill 10 soldiers
  • South Korea president shouted down by distraught parents
  • Classmates celebrating 60th birthday among missing in ferry sinking
  • Sports

  • Nadal passes clay landmark with 300th victory
  • Wawrinka waltzes through with Monte Carlo walkover
  • Power Pinays smash India in Asian Women’s Club volleyball opener
  • PH youth boxers off to stumbling start in AIBA World tilt
  • Durant has 42, Thunder beat Pistons 112-111
  • Lifestyle

  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • Entertainment

  • Jones, Godard, Cronenberg in competition at Cannes
  • Will Arnett files for divorce from Amy Poehler
  • American rapper cuts own penis, jumps off building
  • Jay Z to bring Made in America music fest to LA
  • Why Lucky has not bought an engagement ring for Angel
  • Business

  • Total says makes ‘very promising’ oil find off Ivory Coast
  • ‘Chinese Twitter’ firm Weibo to go public in US
  • World stocks subdued, Nikkei flat on profit taking
  • Asia stocks fail to match Wall Street gains
  • Fired Yahoo exec gets $58M for 15 months of work
  • Technology

  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • DOF: Tagaytay, QC best at handling funds
  • Smart phone apps and sites perfect for the Holy Week
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Malaysia quarantines 64 villagers over MERS virus
  • DFA: 2 Filipinos survive Korean ferry disaster
  • PH asks airline passengers to check for MERS
  • Syria most dangerous country for journalists, PH 3rd—watchdog
  • Japan says visa-free entry still a plan
  • Marketplace