PCSO hits P55-B revenue target from January-October

MANILA The Philippine Charity Sweepstakes Office (PCSO) on Wednesday announced that it has already hit its initial target of PHP55-billion last October.

"As of January, to October, our gross sales is already at PHP54.8 billion, which is 27 percent higher compared to the same period last year. When we say overall, that is combined Lotto, Keno, Small Town Lottery (STL), and Instant Sweepstakes, PCSO General Manager Alexander Balutan said in a statement Wednesday.

Like I always say, figures don't lie. This is proof that PCSO is and has always been on the right track in meeting its revenue target or more by the end of this year, Balutan added.

Last year, PCSO initially set its target at PHP55 billion, which was later adjusted to PHP60 billion due to the rollout of the STL. It also strengthened Lotto products nationwide.

Arnel Casas, OIC-Assistant General Manager for Gaming, Product Development and Marketing Sector, reported that Lotto was the highest earning product with PHP27,987,584,260 in gross sales, which is 5.13 percent higher than figures in the same period last year.

The STL followed with PHP21.9 billion in sales, Keno with PHP3,899,533,950, and Instant Sweepstakes with PHP958,364,000.

We are confident that we will once again break our sales records and hit the PHP60 billion sales by the end of this year. And this is because of the phenomenal sales brought about by the record-breaking jackpot prize that reached PHP1 billion for the Ultra Lotto. Its promotion, popularity, and public acceptance also helped other online Lotto games to increase sales for the months of September and October. STL sales is also unprecedented for this period, Casas said.

Balutan likewise credited the growing sales to the Expanded STL operations being operated by Authorized STL Agents nationwide.

Second highest earning product is the STL. That's why very aggressive yung campaign against illegal gambling, especially 'yung mga jueteng, swertres, at pares. Only PCSO is authorized by the government to operate. Tangkilikin natin ang authorized numbers games sa ating mga probinsya para makatulong tayo sa paglago ng ating pondo (That's why our campaign against illegal gambling is very aggressive, especially jueteng, swertres, and pares. Only PCSO is authorized by the government to operate. Let us patronize authorized numbers games in our provinces so we would be able to contribute to our fund), Balutan said.

PCSO Charter, or Republic Act No. 1169, particularly on revenue allocation, provides that the revenue of the PCSO shall be allocated as follows: 55 percent for prize fund (payment of prizes), 30 percent for charity fund (various charity programs and services), and 15 percent as operating fund (maintenance and operating expenses). (PNA)

Source: Philippine News Agency

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