Revenues up at Loto Quebec in fiscal Q1-2018-19

Loto Quebec, the online and land gambling group operated by the provincial government of Quebec in Canada, posted its fiscal Q1 -2018-19 numbers Friday, reporting a positive start to the year.

Consolidated revenues reached Cdn$ 686.5 million, an increase of Cdn$ 41.6 million or 6.4 percent compared to the same period in fiscal 2017-18. Net income amounted to Cdn$ 359.8 million, a gain of Cdn$ 34.7 million or 10.7 percent y-o-y.

Lottery operations were one of the stars of the show for the group, delivering revenues up 22.5 percent and net income up 28.7 percent. Lynne Roiter, Loto-Québec’s President and CEO, reported record multi-million dollar prizes, boosting public demand for tickets.

Lotto Max offered record prizes, and the Cdn$ 60 million jackpot was hit by a Quebec player. The 100 $ ULTIME lottery was also very popular and produced several millionaires, whilst Instant lottery sales continued to rise thanks to original concepts that proved popular with players.

On the casino side revenues and net income remained stable, with the ‘Leave in a BMW’ promotion creating a lively ambiance that revved up the entertainment factor. Roiter noted that if there had not been one day less in the quarter, revenues would have risen by Cdn$2.9 million or 1.4 percent.

In the gaming establishment sector, revenues from bars and brasseries were 1.4 percent lower due to the withdrawal of terminals in areas targeted by the action plan for video lottery terminals. On the other hand, gaming halls performed well.

Online revenues from the lotoquebec.com website, all types of games combined, rose by 34.9 percent.

https://societe.lotoquebec.com/dam/corporatif/centre-de-documentation/rapports-annuels-et-trimestriels/2018-2019/rapport-1er-trimestre-2018-2019.pdf