Pacific Online profit rose in 1st half

Pacific Online, which provides lotto service and equipment to the Philippine Charity Sweepstakes Office, said its net income during the first half hit P268 million against P243 million in the same period last year.

The company noted that sales of PCSO that were handled by Pacific Online hit P7.3 billion during the period, up 5 percent.

“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,” the company said in its filing.

“Based on the current trend of PCSO lottery sales, [Pacific Online] expects it to reach P16 billion for the full-year 2014,” Pacific Online said.

Pacific Online has 4,064 terminals selling lotto games, which are operated by PCSO. The company also owns Total Gaming Technologies Inc., which has 1,224 terminals and sells Keno games nationwide, also for the government.

The company has yet to disclose its full financial statement as of press time.