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PACIFIC Online Systems, the lottery systems and
terminal supplier of the Philippine Charity Sweepstakes Office (PCSO)
in Visayas and Mindanao, expects a significant rise in sales with
the deployment of new terminals and introduction of a new game.
In a recent briefing, Willy Ocier,
Pacific Online president, said the company projected a sales growth
of 35 percent to P5.5 billion this year with additional revenues
seen from new terminals and expansion to new areas.
Pacific Online is set to sell
shares for the first time to the public. The money eyed from this
initial public offering (IPO) would be used to deploy 820 terminals
and expand to 90 municipalities in southern Philippines in the next
two years.
The company and PCSO plan to
implement the two-digit game called EZ2 this year, and the Power
Lotto next year. The EZ2 is already offered in Luzon. These projects
would require the acquisition of new hardware and development of
software.
Ocier said the initial
P50-million jackpot of Power Lotto would attract more people to the
game. Since it would be more difficult to hit the jackpot due to the
more “complicated” nature of the combinations entailed, the
volume of increase in the prize money would be higher compared to
other number games.
Besides the introduction of new
games, Pacific Online is also counting on the increase in draw
frequency of Lotto 6/42 and Superlotto 6/49 to jack up the
company’s sales this year.
The proceeds of the IPO would
also help fund the company’s back-up data and leasehold
improvements, additional software development, GPRS (general packet
radio system) modems, and transportation equipment. Proceeds of the
IPO would also be used to roll-out a new game called Keno, already
popular in other Asia countries.
These initiatives would cost
P99.8 million, the company said.
Pacific Online is selling 39.8
million of its total 191 million common shares to the public or
20.83 percent of its total capital at P8.88 per share. Of the total
shares to be sold, 11.8 million new common shares would be issued on
a primary basis while 28 million common shares would be sold on a
secondary basis.
The company hopes to raise
P353.424 million from the share sale. Asian Alliance Investment
Corp. and BDO Capital and Investment Corp. would serve as
underwriters.
 --Likha
C. Cuevas
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