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Manila Bulletin devider Business devider The Stock Market devider Belle raises ₱280 million from lottery unit share sale

Belle raises ₱280 million from lottery unit share sale

Published Mar 5, 2026 03:21 pm
Belle Corp. Co-vice Chairman Willy N. Ocier
Belle Corp. Co-vice Chairman Willy N. Ocier
Belle Corp., the leisure and gaming arm of the Sy family’s SM Group, raised ₱280 million in fresh capital after its lottery subsidiary, Pacific Online Systems Corp., purchased a block of the parent company's treasury shares.
In a disclosure to the Philippine Stock Exchange, Bello said Pacific Online acquired 200 million of its treasury shares at ₱1.40 apiece.
The transaction accounts for more than 10 percent of Pacific Online’s total consolidated assets.
For Belle, the sale is part of a broader effort to liquefy dormant assets and bolster its balance sheet for upcoming projects. The shares involved represent approximately 1.12 percent of Belle’s 10.56 billion issued and listed shares.
Following the deal, Belle retains about 664.54 million shares in treasury, down from its previous holding of 864.54 million.
The investment follows a shift in Pacific Online’s corporate strategy. The company is unwinding its digital gaming ventures after the government adopted a restrictive stance on online betting licenses. This policy shift, spurred by controversies surrounding e-Sabong and Philippine offshore gaming operations (POGOs), has effectively halted the expansion of new internet-based gambling platforms.
Pacific Online confirmed it will terminate its E-Lotto platform project and divest its recently acquired stake in HHR Philippines Inc., the owner of the Buenas e-casino.
While the company had previously secured a notice of award from the Philippine Charity Sweepstakes Office to develop the web-based application for the E-Lotto project, the national government’s policy reversal placed the initiative in what the company described as "prolonged suspended animation."
The company’s board of directors determined that the government's policy against online betting is unlikely to be retracted. Consequently, the board ordered the unwinding of the E-Lotto operations to allow the firm to refocus its resources on more feasible opportunities. This includes the cancellation of its planned 37.5 percent stake in HHR Philippines. 

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