The Philippines Charity Sweepstake Office (PCSO) has awarded the new P5.8bn PCSO Lottery System to a joint venture led by Pacific Online Systems Corporation (POSC).
Notifying the Philippines Stock Exchange, POSC indicated that the lottery system had been awarded in conjunction with Philippine Gaming Management Corporation (PGMC) of the Berjaya Group and International Lottery & Totalizator Systems.
Upon awarding the rights to the lottery system, the PCSO sent a correspondence reading: “We are pleased to inform you that in the Bidding conducted for the Procurement of Five Years Lease of the Customized Philippine Charity Sweepstakes Office (PCSO) Lottery System, also known as ‘2021 PLS Project’ under SBAC Contract No. 2021-01, the Special Bids and Awards Committee (SBAC) declared you as the Single Calculated and Responsive Bid (SCRB) for the above mentioned Project.”
The overall shareholding of the lottery system will see POSC hold 50%, with PGMC taking 49% and ILTS, the supplier of PGMC, holding a 1% stake.
Pacific Online said in a statement: “The PCSO further advised that, pursuant to the requirements of the Government Procurement Law (Republic Act No. 9184), a formal contract will be executed with the Joint Venture after the latter shall have complied with the requirement to post Performance Security.”