PCSO Reports 7% Revenue Growth in 2023

The gaming revenue is expected to reach Php61.5 billion (US$1.07 billion) in 2023, up 7% year over year from Php57.5 billion (US$1.0 billion) in 2022, according to the Philippine Charity Sweepstakes Office (PCSO).

Additionally, this data shows a noteworthy 40% increase over 2019, suggesting a robust post-pandemic recovery for the lottery.

According to a breakdown of 2023 revenues, the small town lottery brought in Php29.7 billion (US$519 million), the lottery games brought in Php31.4 billion (US$548 million), while the Instant Sweepstakes brought in Php344.2 million (US$6.0 million).

The general manager and vice chairman of PCSO, Melquaides Robles, credits greater revenue optimization efforts for this rise. “The banner revenue performance of our lotto and STL games means a higher allocation for the PCSO’s Charity Fund,” Robles continued.

As per the PCSO’s mandate, thirty percent of the cash generated are sent to the Charity Fund and seventy percent are used for the prize pool. The PCSO’s 2023 revenue allocation of Php18.4 billion (US$321 million) demonstrates its dedication to its philanthropic goal.

Original Story by: Inside Asian Gaming