Pacific Online to Invest P150 Million for a 3.7% Stake in HHR Philippines

Pacific Online Systems Corporation (POSC) entered into an investment agreement with HHR Philippines, Inc. (HHRPI), together with the latter’s principal shareholders. POSC will be acquiring the equivalent of Thirty-Seven Point Five Percent (37.5%) of the resulting outstanding capital of HHRPI after POSC’s investment. The proceeds of POSC’s capital infusion will be utilized by HHRPI primarily to fund its expansion program

HHRPI, a software and professional service provider of electronic gaming platforms for land-based and online gaming operators, is licensed and accredited by the Philippine Amusement and Gaming Corporation (PAGCOR). At the same time, it is a holder of a PAGCOR Gaming License for online gaming (e-Casino) under the brand “Buenas”.

Through this investment in HHRPI, POSC will be expanding its presence in the online gaming business through a company licensed by PAGCOR. The new capital to be infused by the POSC into HHRPI, on the other hand, will be utilized by the latter to fund its expansion activities.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 81,000
​Percentage to the total outstanding shares of the company subject of the transaction: 37.5%
Price per share: P1,851.85
Philippine Pesos: One Hundred Fifty Million (Php150,000,000.00) to be paid in cash in three (3) tranches

Pacific Online Systems Corporation (Pacific Online), a publicly listed company incorporated in 1993, is engaged in the provision and management online lottery systems, terminals and software for the Philippine lottery gaming industry. It has been providing technical and market expertise for the distribution of lottery products in the country in partnership with the state-run Philippine Charity Sweepstakes Office (PCSO) for more than 2 decades.