Willy Ocier's Pacific Online invests P150M in Tony Manguiat's HHR Philippines, an e-Casino operator licensed by PAGCOR. A big move into online gaming.
Willy Ocier's Pacific Online Systems Corp. (Stock name: LOTO) is making a big move into the online casino world as it invests P150 million for a 38% share in HHR Philippines Inc. (HHRPI), a company that has a regulation license from Philippine Amusement and Gaming Corporation (PAGCOR) to run e-Casinos.
HHR Philippines is owned by lawyer and businessman Tony Manguiat, who's also known for his high-end lambanog brand "Lakan."
Pacific Online Systems Corporation (Pacific Online), a company listed on the stock exchange since 1993, runs online lottery systems, providing the terminals and software. For over 20 years, they've partnered with the government's Philippine Charity Sweepstakes Office (PCSO) to distribute lottery products across the country, offering their technical and market expertise.
The investment agreement was signed between LOTO and HHRPI, along with its principal shareholders. The P150 million investment will be paid in three tranches and will be used primarily to fund HHRPI's expansion program.
HHRPI's casino game is called "Buenas," and they've got some recognizable faces promoting it: social media star Boss Toyo and actress-comedian Valeen Montenegro. "Buenas" also makes it easy for players to pay using popular digital wallets like GCash and Maya.
With the P150 million injection, HHR Philippines aims to scale up operations and bring "Buenas" to a broader audience, tapping into the rapidly growing online gaming market. This bold move underscores Pacific Online's commitment to staying at the forefront of digital gaming innovation in the country.
Read related article: PAGCOR Slashes E-Games Fees By 30 Percent
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