Pacific Online Systems Corp., an online lottery equipment provider, emerged as the lone qualified bidder for Philippine Charity Sweepstakes Office’s five-year e-lotto digital betting platform.
Pacific Online said in a disclosure in a stock exchange Thursday it received a notice from PCSO that its bid was declared as the “single calculated bid for the procurement of five-year lease for web-based application betting platform”.
“As the single calculated bid, the bid submitted by the corporation will be subjected to post-qualification review by the PCSO-SBAC (Special Bids and Awards Committee). Should there be no issues raised during post-qualification, it is expected that the PCSO-SBAC will be issuing its Notice of Award,” Pacific Online said.
Pacific Online signed a memorandum of agreement with PCSO for the one-year trial implementation of a web-based application betting platform in August last year. The trial period started Dec. 31, 2023.
PCSO aims to develop and promote more marketable, adaptable, resilient and trendy betting platforms through the e-lotto digital betting platform, taking into account the evolution of the gaming market and the advancements in technology.
PCSO has no facility that sells lotto ticket online. Interested lotto players will have to purchase lotto tickets to over 7,700 lotto outlets nationwide.
PCSO earlier said it expects to double its revenues and charity fund with the launch of e-lotto.The state-run PCSO has also been going after illegal gambling operations which include bookies, jueteng, unauthorized small-town lottery draws and illegal online lotto operations.
Meanwhile, the shift from face-to-face to electronic transactions by clients to remote betting is expected to boost Pacific Online’s revenues.
Pacific Online is engaged in leasing of online betting equipment of PCSO.
It also provides the technical support to the PCSO through a maintenance repair agreement, which is co-terminus with its equipment lease agreement.
Pacific Online’s net income declined by 86 percent to P13.4 million in the first quarter of 2024 from P93.5 million in the same period last year on higher cost and expenses.
Revenues fell 5 percent to P146.5 million mainly due to the transition from legacy system to nation-wide lottery system under its joint venture operation.
