PCSO generates P372-M savings

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The Philippine Charity Sweepstakes Office (PCSO) has generated P372.1 million in savings from January to August 2013, according to Remeliza Gabuyo, Assistant General Manager for Branch Operations Sector in a report to PCSO chair Margie Juico.

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Bulk of the savings came from thermal rolls and bet slips, P257.6 million, and reduced ELA rate with POSC, P110.9 million; P3.6 million came from tapping of local government properties/buildings for PCSO branch offices.

Lotto sales for the January to August period reached more than P20 billion and Lotto Express totaled P1 billion in January to August 2013 compared to the same period in 2012 where P622 million was generated and in 2011 in which sales amounted to P378 million.

Chairman Juico expressed pride that the agency has finally generated money. She cleaned house by streamlining operations and cost cutting. The agency was able to pay its debts, and has raised around P4 billion from the largest sweepstakes jackpot of P741 million.

PCSO had a 15-percent increase in sales last year, grossing P36.4 billion in 2012.

PCSO’s direction is to ensure that it meets its primary mandate of providing medical and dental services to the citizens of the Philippines through revenues derived from national sweepstakes and lottery operations.

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