PACIFIC Online Systems Corp., the online lottery system provider of Philippine Charity Sweepstakes Office (PCSO) in Visayas and Mindanao, has signed an extension of an equipment lease agreement (ELA) with PCSO.
In a disclosure to the stock exchange, Pacific Online said lease deal was extended by three years from August 1, 2015 to July 31, 2018.
The company currently leases an online lottery network to PCSO, involving 4,500 betting terminals for various lottery games in the Visayas and the Mindanao.
Pacific Online subsidiary Total Gaming Technologies Inc. has a separate lease agreement with PCSO for an online network of about 1,500 betting terminals for Keno games.
PCSO and Pacific Online started a lease agreement on online system in 1996.
As of end-March, Pacific Online has 4,420 terminals selling various PCSO lottery games.
In the first three months of the year, the firm posted a consolidated net operating income of to P136 million – up 4 percent from P131 million a year earlier.