PCSO posts P16-B revenues during the 1st quarter of 2018

LIPA CITY, Batangas - The Philippine Charity Sweepstakes Office (PCSO) posted P15,983,404,422 revenues in the first quarter this year, according to PCSO General Manager Alexander Balutan.

Balutan said the amount represented the combined revenues from all PCSO products such as Lotto, Keno, Sweepstakes and Small Town Lottery (STL) for the first quarter of 2018, an increase of P3.5 billion, or 28.24 percent, than last year’s P12, 458,466,313 in the same quarter.

He said Lotto, the highest income earner, contributed P7.6 billion, or 49 percent, of the total revenue followed by STL with a revenue of P6.1 billion, equivalent to 38 percent , while other products contributed P1.4 billion, or nine percent.

Balutan said revenues from STL increased by P3,282,796,119, or 114 percent more than earned last year of P2,877,462,813.

He described the STL revenue increase as “a resounding success of PCSO’s effort in implementing STL across the country and the government’s fight against all forms of illegal numbers game.”

He also recognized the efforts of PCSO’s partner, the Philippine National Police (PNP), in going against operators and agents of illegal numbers game nationwide, the cooperation of the local government officials for allowing the entry and operation of STL in their respective jurisdiction and to the public for accepting and patronizing STL.

Balutan said the increase in PCSO income has resulted in more beneficiaries served through the flagship Individual Medical Assistance Program (IMAP), reaching out 120,356 patients nationwide during the first quarter amounting to P2,357,690,596.81 compared with the same period last year where only 89,756 patients have been served with P1,684,580,181.64 amount of assistance.

“Because we generated that much, PCSO was able to assist more patients, and this also means more funds, more patients will be served by PCSO,” stressed Balutan.

In addition, he said PCSO has also disbursed P446,611,677.31 to local government units where there are STL operations, PNP and Criminal Investigation and Detection Group, an amount which is 138.8 percent higher than last year’s P187,025,039.09 disbursement.

According to Balutan, PCSO has also disbursed a total of P106,228,974.04 for the Commission on Higher Education, Philippine Drug Enforcement Agency and Philippine Sports Commission as well as P3,595,378,698.80 in payment for various forms of taxes to the government.

PCSO will be reporting to the people every quarter to show that PCSO is transparent in all its undertakings, he said.

“We want to show the public especially those who are patronizing our gaming products where their money goes,” Balutan said.

Meanwhile, PCSO Chairman Anselmo Simeon Pinili, through his Chief of Staff Ted Quijano, said that the agency is on the right track towards achieving its P60 billion revenue target for 2018 and with more revenue there will be more funds to distribute to its various charity programs intended to help Filipinos especially to the less fortunate.

Accordingly, PCSO spends 55 percent of the revenues for Prize Fund, 30 percent for Charity Fund, and 15 percent for Operating Fund. As of the first quarter, it has paidout P772,160,958 to 16 Lotto jackpot winners led by 6/42 with six winners; three winners each for 6/45 and 6/49; and two winners each for 6/55 and 6/58 where 6/58 has the highest pay-out amounting to P331,971,464.