- Summits
- News
- Foundation
- Training & Advisory
- Poker Tour
- SiGMA Play
- SiGMA Play
- SiGMA Play
- About
Pacific Online Systems Corporation (POSC) is expanding its presence in the online gaming industry with a PHP150-million (€2.5 million) investment in HHR Philippines Inc. (HHRPI), a software and professional service provider for electronic gaming platforms. The company announced in a disclosure to the Philippine Stock Exchange (PSE) that it has signed an investment agreement to acquire a 37.5-percent stake in HHRPI.
“Through this investment in HHRPI, the corporation will be expanding its presence in the online gaming business through a company licensed by the Philippine Amusement and Gaming Corp. (PAGCOR),” POSC said. The company added that the investment will support HHRPI’s expansion initiatives.
HHRPI provides software and professional services for land-based and online gaming operators. It holds a PAGCOR gaming licence for online gaming under the brand “Buenas.” The company has also partnered with digital payment platforms GCash and Maya, making it easier for players to access and engage with its offerings.
HHRPI is owned by lawyer and entrepreneur Tony Manguiat, who is also behind the premium local liquor or lambanog brand “Lakan.” The “Buenas” platform features Filipino social media personality Boss Toyo and actress-comedian Valeen Montenegro as brand ambassadors, boosting its market presence.
In addition to its investment in HHRPI, POSC has been actively involved in digital gaming through its e-lotto operations. In June, the Philippine Charity Sweepstakes Office (PCSO) awarded POSC a PHP4.1-billion (€67.5 million) contract to operate its e-lotto platform.
PCSO’s special bids and awards committee selected POSC as the “single calculated and responsive bid” for the project. The company had previously signed an agreement with PCSO in August 2023 to develop a “web-based application betting platform.” The e-lotto platform, launched on 15 December 2023, allows players to access traditional lottery games online.
Despite these expansions, POSC has faced financial challenges. The company reported a 98-percent decline in net earnings for the first nine months of 2024, amounting to PHP3.8 million (€62,579). The drop was attributed to increased expenses related to its transition to the nationwide online lottery system for PCSO.
POSC’s joint venture, PinoyLotto Technologies Corp., shifted from its legacy system, resulting in a 33-percent rise in expenses to PHP360.5 million (€5.9 million). Revenues during the same period also declined by 17 percent to PHP388.4 million (€6.4 million).
Despite financial setbacks, POSC’s stock has shown a positive trend. The company’s shares have surged 51 percent year-to-date, trading at PHP4 (€0.066) per share. Investors appear optimistic about POSC’s expansion into online gaming and its investment in HHRPI.
With this move, POSC is reinforcing its presence in the iGaming space, leveraging its investment in HHRPI and its role as an e-lotto operator in the Philippines to drive future growth.
Discover the world’s iGaming community at AIBC Eurasia Summit. February 23-25, 2025. Connect with industry leaders and explore opportunities with the biggest iGaming community in the world.