Pacific Online posted 15% business growth in Jan.-Sept.
Listed lottery terminal supplier Pacific Online Systems Corp. reported a 15-percent year-on-year growth in the amount of business it handled from January to September this year.
In a statement, the company said it handled P8.2 billion worth of lottery transactions during the nine-month period.
The company operates lottery for state-run Philippine Charity Sweepstakes Office (PCSO) in the Visayas and Mindanao. It also offers “Keno” or express lotto services for PCSO nationwide.
Pacific Online said it was on track to hitting PCSO lottery sales of P11 billion for this year. This will so far be the highest amount of business handled by the company.
The company has been a systems provider of the PCSO since 1996.
Pacific Online now has 2,500 terminals selling various lottery games, operated by PCSO. The firm’s 75 percent-owned subsidiary, Total Gaming Technologies Inc., has more than 500 terminals and sells Keno (“Express Lotto”) nationwide for the PCSO, it added.
The company said it was on its way to posting record profits for 2012. It made P201 million in the first half of the year, up 11 percent year on year.
“Consolidated full-year net income may hit P450 million,” Pacific Online chief financial officer Rhederick Inciong said.
Company chairman Willy Ocier said Pacific Online was expecting sales to continue growing in the fourth quarter as early election-related spending fuels economic growth.
In June, Pacific Online signed a fresh deal with the PCSO for the rollout of an additional 600 lottery terminals in the Visayas and Mindanao.
