PCSO revenues up 27% in January-October

The Philippine Charity Sweepstakes Office (PCSO) on Wednesday reported a 27-percent increase in its revenues during the first ten months of the year.

In an emailed statement, the PCSO said its gross sales rose by 27 percent to P54.8 billion, keeping the agency on track to achieve its P60-billion target revenue this year.

“Like I always say, figures don’t lie. This is a 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,” said PCSO General Manager Alexander Balutan.

According to the PCSO, Lotto was the highest earning product for the period, with a total of P27.987 billion in gross sales, followed by the Small Town Lottery (STL) with P21.9 billion.

"We are confident that we will once again break our sales records and hit the P60 billion sales by the end of this year,"  said Assistant General Manager Arnel Casas.

"And this is because of the phenomenal sales brought about by the record-breaking jackpot prize that reached P1 billion for the Ultra Lotto," he added.

The PCSO in October awarded the total jackpot of P1.180 billion to two winners who will split the prize, minus 20-percent tax. — Jon Viktor D. Cabuenas/BM, GMA News