Pacific Online sees 16% profit growth

Listed Pacific Online Systems Corp. sees vast room for growth in the country’s gaming market that will help ensure the steady growth of the company’s profit in the next several years.

Pacific Online chairman Willy Ocier said the company would spend P300 million this year—the same level as last year—for the expansion of its network of gaming terminals in the Visayas and Mindanao, its concession area.

“We still feel that the Philippines is an underserved market,” Ocier said.

He said the number of existing lottery terminals in Visayas and Mindanao—at 1,800—were only half of the total 3,600 that could be built.

“We can still double the terminal population.”

This makes up 30 percent of the 12,000 lottery terminals that can be built throughout the country, the bulk of which will be in Luzon.

This year, he said the company would add another 220 lottery terminals, spending P300 million.

Ocier said this would help the firm post a record profit of P500 million by the end of 2011, or 16 percent up from last year’s P430 million.

“We hope to do better this year. That’s a record high. We hope to continue working with the PCSO [Philippine Charity Sweepstakes Office] to increase its revenue.”—Paolo G. Montecillo