Pacific Online Systems Corporation agreement with Philippine Charity Sweepstakes Office (PCSO) regarding lease rate of lottery equipements

Pursuant to an agreement entered into by the Pacific Online Systems Corporation (LOTO) with the Philippine Charity Sweepstakes Office (PCSO), the lease rate of the LOTO's online lottery equipment used by the PCSO for its lotto operations in Visayas and Mindanao will be reduced from Ten Percent (10.0%) of gross sales to Nine and Eighty-Five Hundredth Percent (9.85). The Fifteenth-Hundredth Percent (0.15%) reduction represents the cost of maintenance of the lottery equipment subject of the lease which the LOTO has agreed to shoulder in consideration of its long-standing relationship with the PCSO. Furthermore, through the same agreement, LOTO will be leasing a minimum of Six Hundred (600) additional terminals to be used by the PCSO for its lotto operations. A lease fee equivalent to Seven and Eighty-Five Hundredth Percent (7.85%) of gross sales have been agreed upon by the parties for the lease of the additional equipment. - https://www.affordablecebu.com/