THE online lottery systems and terminal supplier of the Philippine Charity Sweepstakes Office in the Visayas and Mindanao told the Philippine Stock Exchange on Thursday that it bought a the online lottery operator in SM malls through its wholly-owned subsidiary.
According to Pacific Online Systems Corp., its subsidiary Loto Pacific Leisure Corp. signed a deed of sale of all the outstanding capital stock of Lucky Circle Corp. amounting to P18 million, making it an indirect subsidiary of the parent company.
Lucky Circle is a domestic private firm that owns and operates 20 online lottery betting stations inside SM malls. “Loto Pacific will build on Lucky Circle’s present infrastructure and beef up its working capital.
We intend to multiply our presence in all SM malls, hypermarts and supermarkets to distribute PCSO’s lottery products and instant scratch tickets,�? Willy N. Ocier, Pacific Online president, said. The latest acquisition would increase Pacific Online’s subsidiary’s online betting stations from 12 to 32 nationwide.
At end-June, the parent company’s lottery terminals reached 1,1236 from 912 last year. With the roll-out of additional terminals during the first semester and lower expenditures, Pacific Online’s profits climbed 120 percent to P65.2 million higher over the previous year.
Earlier, the lotto operator said its newly launched scratch card in partnership with AB Gaming Corp. may overtake lotto ticket sales in the next few years since there is big market potential as seen from United States’ experience.
Pacific Online also launched a new numbers game called EZ2 digit game, which is one of the best-selling games in Luzon, which would help prop up its earnings for the year. Another game, Power Lotto, is scheduled to be introduced next year.
The firm expects sales to grow 35 percent to P5.5 billion this year and targets the roll out of 820 terminals and penetration of 90 new municipalities in southern Philippines in the next two years.