Philippines lottery predicting 33 percent growth this year

The Phillipines publication Business World reports that Manila-listed online gambling firm Pacific Online Systems Corp. expects to grow by more than a third this year, following an impressive three-quarter performance.

Sales from January to September 2008 went up by more than a third from a year earlier as the company expanded its reach in the Visayas and Mindanao.

In a disclosure to the stock exchange, Pacific Online said it had posted P466.1 million in revenues for the nine month period mainly due to the successful rollout of terminals [that] now total 1 541."

This translated to P4.7 billion in lotto sales in the Visayas and Mindanao offices of the Philippine Charity Sweepstakes (PCSO), the company said. Pacific Online is the exclusive online lottery system provider of the PCSO in both regions.

"With the expected robust sales in the remaining months of the year, the company's sales performance may either sustain this significant growth or surpass it," a spokesman predicted.

The company also reported growth in subsidiary Lucky Circle Corp., which owns and operates lotto outlets at SM malls nationwide.

Lucky Circle has 69 lotto outlets and continues to expand its reach, Pacific Online said.

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search
Search Results
39012170