July 11 - This week the firm that provides lottery equipment to the
state-owned Philippine Charity Sweepstakes Office (PCSO), announced that
it will be selling an additional number of lottery scratch cards to the
value of P400 million ($8.8 million).
Pacific Online Systems Corporation has been charged by the Philippine Charity
Sweepstakes Office with the responsibility to print, market and distribute the
new P20.00 ($0.43) lottery scratch cards as part of its range of instant win
ticket games.
The launch of more lottery scratch cards follows the success of the Triple Cash
and Money Bag lottery scratch cards launched last year, followed by four new
lottery scratch cards launched earlier this year - Fast Cash, Diamond Dash,
Payday and Lucky 8's.
The success of instant lottery scratch cards in the Philippines over the past
year has been attributed to the fact that a P20.00 scratch card can yield
players an instant cash prize of up to P1 million ($22,000).
In another development, Pacific Online System made its intentions clear to the
Philippine Stock Exchange this week that it intends to buy back two million of
its shares in order to boost its share price, which closed at P0.10 or 1.2
percent at P8.50 today.
The firm also revealed that its board of directors have approved a cash dividend
of P0.08 per share to stockholders of record as of August 8th, 2008, and another
P0.17 per share to those of record as of November 17th, 2008.
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