Pacific Online stepping away from online gambling
Pacific Online Systems Corp. is divesting from online gambling ventures due to the Philippine government's policy against online betting platforms.Summary
Pacific Online Systems Corp., a subsidiary of Belle Corp., is exiting the online gambling business due to a firm national policy against licensing online betting platforms. The company is unwinding its investment in HHR Philippines Inc. (HHRPI), the operator of Buenas PH, and discontinuing its electronic lotto (e-lotto) project with the Philippine Charity Sweepstakes Office (PCSO). Pacific Online initially planned to acquire a 37.5% stake in HHRPI in January 2025 and was awarded a P4.09-billion contract for the e-lotto system in 2024, but government policy changes led to the suspension and eventual abandonment of both projects. The company stated that these decisions will not significantly impact its financials and will refocus its resources on other opportunities within the lottery industry.
(Source：Philstar.com)