THE Philippine Charity Sweepstakes Office (PCSO) said it is adding more lotto outlets to offset funding it will lose when the ban on Philippine Offshore Gaming Operators (POGOs) goes into effect by year’s end.
The ban will affect how much money the PCSO receives from the Philippine Amusement and Gaming Corp., PCSO Chairman Felix P. Reyes said in a budget briefing at the House of Representatives.
“Our objective is to increase revenue… and we’re heading towards adding more betting platforms,” he said.
“In a previous board meeting, we approved (a policy allowing) us to install lotto outlets in chains of businesses such as remittance centers,” he added.
The National Government will give up around P20 billion as a result of the POGO ban, according to Deputy Speaker and Quezon Rep. David C. Suarez.
President Ferdinand R. Marcos, Jr. during his annual address to Congress in July ordered the closure of the POGO industry, citing its links to criminality and financial scams.
The PCSO is also looking into introducing a new form of lotto “to bring in more sales for the agency,” Mr. Reyes said.
“We are launching a new variant named Lotto Bilyonaryo, and we’re hoping to implement it as soon as possible,” he said.
He added that the PCSO is also planning to invest some of its sales to further boost revenue.
“Under (the PCSO) charter, we’re authorized to invest a percentage of our net receipts,” Mr. Reyes said. “That’s why we’re looking for potential investments that would yield profits. We’re waiting for an opportunity to invest.”
PCSO’s retail receipts amounted to P30.9 billion in the first quarter of 2024, according to its presentation to the House appropriations panel. — Kenneth Christiane L. Basilio
