Willy Ocier of Pacific Online Systems Corp. —photo from Pacific Online website
MANILA, Philippines — The Philippine Charity Sweepstakes Office (PCSO) has awarded a P4.1-billion contract to operate its e-lotto platform to businessman Willy Ocier’s Pacific Online Systems Corp.
In a stock exchange filing on Wednesday, Pacific Online said the PCSO’s board of directors had approved its special bids and awards committee’s recommendation, declaring Pacific Online the “single calculated and responsive bid” for the project.
“With the issuance of the notice of award, the corporation will now be complying with the post-notice of award requirements of the PCSO; thereafter, the contract between the corporation and PCSO covering the terms and conditions of the project will be executed,” Pacific Online said in its disclosure.
Trial period
In August 2023, the company signed an agreement with the PCSO to create a “web-based application betting platform.” The memorandum of agreement covered a one-year trial period, during which Pacific Online would be PCSO’s exclusive agent. The betting platform, which was launched on Dec. 15, 2023, “offers traditional lottery games to the playing public on the go,” the company said on its website.
On May 30, the PCSO announced that Pacific Online was the sole bidder for the project, which is meant to make betting more accessible in the country through digitalization. Last year, the company entered into a joint venture agreement with Philippine Gaming Management Corp. and International Lottery Totalizator Systems for a five-year contract to create the PCSO’s nationwide online lottery system.
Pacific Online’s earnings in the first quarter of the year fell to P13.9 million from P93.17 million in the same period last year as revenues declined and expenses went up.
Its financial report showed that revenues dipped to P138.91 million from P146.51 million. Expenses, on the other hand, increased to P116.78 million from P71.17 million.