PH lotto operator reports 40% increase in revenue

In the first three quarters of 2023, Pacific Online Systems Corporation, the operator of the Philippine Lotto, reported a forty percent increase in revenue, or PHP358.1 million ($6.4 million).

Many factors have been attributed to the increase, which includes higher Lotto jackpot rewards in 2023, more selling terminals, particularly in Luzon, and an increase in Lotto sales as a result of a more open economy.

Identifying and obtaining rent deficiency claims from its KENO activities proved to be another accomplishment for the company during this period. To reach PHP218.4 million ($3.9 million) annually, operating income more than doubled year over year. Furthermore, at PHP228.24 million ($4.08 million), net income climbed by 79% year over year.

The Philippines’ leading provider of operational and management solutions for the lottery sector is Pacific Online Solutions Corporation. The company’s ability to effectively manage shifting market conditions and seize growth opportunities is shown by the solid financial outcomes.

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Original story by: Asia Gaming Brief