The Philippine Charity Sweepstakes Office reported higher earnings in 2018, mainly thanks to an increase in sales of Lotto tickets.
Philippines.- The Philippine Charity Sweepstakes Office (PCSO) revealed its 2018 financial results and reported a major earnings increase. According to the agency, it was mainly boosted by improved Lotto tickets sales and other numbers games.
The PCSO explained its earnings jumped 20% year-on-year after reaching just over €1 billion in 2018. In 2017, the agency posted earnings for €883 million, but an increase in Lotto and Digit Games sales helped its figures improve last year.
During 2018, Lotto and Digit Games sales were up 14% after reaching €516.5 million, PCSO General Manager Alexander Balutan revealed. He further said that small town lottery or STL revenue also posted a major increase after jumping by 66% to €433 million.
After ranking as the 6th top paying government-owned and controlled corporation contributor, the PCSO is looking to continue improving in 2019. Officials have said that they want to earn more by text betting available to the public this year, but they still need to finalise the details on the new scheme.