Pacific Online is sole E-Lotto bidder

LISTED lottery company Pacific Online Systems Corp. (POSC) said Thursday that it had been declared the sole bidder by the Philippine Charity Sweepstakes Office (PCSO) for a five-year electronic lotto or E-Lotto lease.

In a stock exchange filing, Pacific Online said it received a notice from the PCSO’s Special Bids and Awards Committee (PCSO-SBAC) on Wednesday declaring its offer as the “single calculated bid” for the E-Lotto platform contract.

“As the single calculated bid, the bid submitted by the corporation will be subjected to post-qualification review by the PCSO-SBAC. Should there be no issues raised during post-qualification, it is expected that the PCSO-SBAC will be issuing its notice of award,” Pacific Online said.

E-Lotto is the digitized version of traditional lottery games, offering players the convenience, security and transparency of electronic betting.

In 2023, Pacific Online had signed a memorandum of agreement with the PCSO for a yearlong test run of a web-based application betting platform. The test run was cut short, however, after PCSO started its bidding process for the web-based betting platform.

On Thursday, shares of Pacific Online were down 1.03 percent at P4.80 apiece amid a 0.62-percent fall for the benchmark Philippine Stock Exchange index.