PACIFIC Online System Corp. said Wednesday its net income for 2007 rose 167 percent to P134.6 million from P50.5 million a year earlier.

The growth was on the back of the 19-percent improvement in last year’s sales of P479.6 million from P404.25 million in the same comparable period.

Revenues represent 10 percent of total lotto sales recorded by the state-owned Philippine Charity Sweepstakes Office (PCSO) in Visayas and Mindanao (VisMin). Pacific Online is the exclusive online lottery system provider in the two regions under a partnership with PCSO.

Revenue growth was driven by the 504 terminals it added last year, said chairman and president Willy Ocier. At the end of 2007, Pacific Online had 1,401 terminals in VisMin.

This year, Pacific Online sees further improvement in its financial performance with the roll out of more terminals and the expansion of unit Lucky Circle Corp.

“We are confident of hitting a 20-percent increase in our revenues this year and possibly a net income of around P200 million,” Ocier said in an interview.

Alongside the roll out of new terminals is the launch next month of its new numbers game called Power Lotto in which the winner is guaranteed a minimum jackpot of P50 million.

Lucky Circle, meanwhile, plans to put an additional 50 outlets this year to widen its coverage. The betting company does retail sales for PCSO products. Its outlets, which currently number to 56, are mainly located in SM malls.

Pacific Online, through wholly owned unit Loto Pacific Leisure Corp., acquired Lucky Circle last August for P18 million.

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PACIFIC Online System Corp. said Wednesday its net income for 2007 rose 167 percent to P134.6 million from P50.5 million a year earlier.

The board of ABS-CBN Broadcasting Corp. approved on March 26, 2008 a dividend declaration of P0.825 per share to stockholders as of April 30, 2008 that will be paid on or before May 27, 2008.