LISTED online lotto system provider Pacific Online Systems Corp. saw 2017 net income climb 23 percent, driven by its lottery equipment leasing business units for both lotto and keno.
In a disclosure on Friday, the company said full-year profit in 2017 jumped to P493 million from P400 million in 2016.
It said its lotto and keno leasing business units posted a combined delivered profit of P429 million or 83 percent of the consolidated net income.
Revenues also increased 16 percent to P1.8 billion from P1.6 billion in 2016 on the back of higher terminals installed in the period.
Pacific Online, with its subsidiary Total Gaming and Technologies Inc., deployed 6, 615 lotto and keno terminals last year, up 7 percent versus the 6, 177 terminals deployed in 2016.
Consolidated assets of the company and its subsidiaries reached P2.6 billion, 4.5 percent higher than the previous year’s P2.4 billion.
Pacific Online supplies lotto machines in the Visayas and Mindanao. It focuses on the development, design and management of online computer systems, terminals and software for the Philippine gaming industry
It said its contract with the Philippine Charity Sweepstakes Office (PCSO) will expire on July 31 of this year. The company provides necessary technical support to the PCSO.