HIGHER REVENUES. A commuter place his bets at a lotto outlet inside the Parañaque Integrated Terminal Exchange in this Dec. 19, 2023 photo. The Philippine Charity Sweepstakes Office (PCSO) recorded PHP61.45 billion in gaming revenues in 2023, a 7 percent hike from PHP57.467 billion in 2022. (PNA file photo by Yancy Lim)
MANILA – The Philippine Charity Sweepstakes Office (PCSO) recorded PHP61.45 billion in gaming revenues in 2023.
This translates to a 7 percent increase in its gaming revenues from only PHP57.467 billion in 2022, according to the state lottery agency's latest data.
Lotto games raked in the biggest revenue at PHP31.37 billion, followed by the small town lottery (STL) with PHP29.73 billion and Instant Sweepstakes with PHP344.24 million.
PCSO general manager and board vice chair Melquaides Robles said Tuesday their intensified efforts to maximize government revenues from the lotto and other digit games bore fruit last year.
Robles noted that last year's gaming revenues were also almost 40 percent higher than the pre-pandemic year 2019's total gaming revenues of PHP44.02 billion, reflecting a full recovery of the PCSO's gaming operations and profitability of the lotto and STL games.
"The banner revenue performance of our lotto and STL games means a higher allocation for the PCSO's Charity Fund," Robles told reporters.
Robles, meanwhile, thanked patrons of the state lottery firm's games who contribute to the charity fundraising efforts.
The PCSO charter mandates a 70:30 ratio of allocation of the PCSO's revenues for the PCSO Charity Fund, where 70 percent goes to the prize and operational fund, and 30 percent going to the Charity Fund.
Of the total PHP61.45 billion gaming revenues in 2023, the PCSO can allocate a hefty PHP18.4 billion for their 2024 Charity Fund. (PNA)
