Lotto operator 2010 income surges 63% on higher sales

Source: ABS-CBNNEWS.COM: MANILA, Philippines – Lotto operator Pacific Online Systems Corp. posted a consolidated net income of P430 million in 2010, up 63% year on year, due to higher lotto and instant scratch ticket sales.

In a disclosure to the stock exchange, Pacific Online said its revenues grew 30% to P1.25 billion last year from P962 million in 2009.

The company said it expects “to surpass its financial performance in 2010 through the continuous roll-out of terminals for all PCSO lottery products nationwide, introduction of new games, intensified marketing and wider distribution of instant tickets and larger network of retail lottery outlets.”

At the same time, the company is considering the possibility of investing in other gaming-related ventures, including, but not limited to investments in casino operations… More on Franchising Philippines


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