Pacific Online backs out of HHRPI investment citing gov’t policy

Pacific Online backs out of HHRPI investment citing gov’t policy
PACIFIC ONLINE Systems Corp. (LOTO) said it is unwinding its investment in HHR Philippines, Inc. (HHRPI) after the national government adopted a firm policy against licensing online betting platforms. Pacific Online, a publicly listed company engaged in providing lottery systems and related technology services, said the move was in response to the government’s policy direction. […]