Online lottery equipment provider Pacific Online Systems Corp. (POSC) bagged a P4.088 billion contract from state-run Philippine Charity Sweepstakes Office (PCSO) for an e-lotto platform.
Pacific Online said in a disclosure to the stock exchange Wednesday it received a notice from PCSO that its board of directors approved the recommendation of the special bids and awards committee declaring the corporation as the” single calculated and responsive bid” for five-year procurement 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.
Pacific Online signed a memorandum of agreement with PCSO for the one-year trial implementation of a web-based application betting platform in August last year. The trial period started Dec. 31, 2023.
PCSO said it aims to develop and promote more marketable, adaptable, resilient and trendy betting platforms through e-lotto digital betting platform, considering the evolution of the gaming market and the advancements in technology.
PCSO has no facility that sells lotto ticket online, and lotto players will have to purchase lotto tickets to over 7,700 lotto outlets nationwide.
Pacific Online is primarily engaged in the development and management of online computer systems, terminals, and software for the domestic lottery industry. It provides technical and market expertise for the distribution of lottery products in the country in partnership with PCSO.
The share price of Pacific Online rose 0.46 percent Wednesday to close at P4.35.
