Pacific Online bags P4-B PCSO deal to operate online lotto

Pacific Online Systems Corporation announced on Wednesday that it has received formal notice from the Philippine Charity Sweepstakes Office (PCSO) awarding it a contract worth P4.088 billion for a five-year lease of its “web-based application betting platform.

In a statement to the Philippine Stock Exchange, Pacific Online said the PCSO’s board of directors, following a recommendation from the Special Bids and Awards Committee, declared Pacific Online as the “single calculated and responsive bidder” for the project.

This award allows Pacific Online to operate the online lotto system which will allow Filipinos to conveniently bet on lotto games online, including from their mobile devices, instead of lining up at traditional lotto kiosks.

Pacific Online said it will now proceed with fulfilling the post-award requirements set by the PCSO, paving the way for the contract finalization.

Pacific Online's one-year historical performance on the local bourse. CLICK ON THE IMAGE TO SEE THE FULL GRAPH. (Courtesy of the the Philippine Stock Exchange)
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