Loto-Quebec increases online gambling revenue

The gambling monopoly released its fiscal H1 earnings report, which shows a 42 percent increase.

Loto-Quebec released a report in which it details its fiscal H1 earnings: the monopoly experienced a 42 percent increase during the six month period ending September 25. Overall revenue totaled US$1.4 billion, a 3.5 percent increase than the numbers registered in H1 2016-2017.

The online gambling site from Loto-Quebec, Espacejeux.com, reported a 42.3 percent rise when compared to the same period in the previous fiscal to US$38.7 million. The increase sets a new acceleration in the site’s activity, as it surpassed the 29.7 percent rise that it had experienced in fiscal 2016-2017. Profits also showed a good performance as they totaled US$526 million, a 6.2 percent hike. Moreover, land-based operations experienced a rise as they improved 2.4 percent to US$677 million: gaming venues such as VLT and bingo halls reported a 1.9 percent hike to US$387 million, and the four brick-and-mortar casinos showed a 7.3 percent increase to US$350 million.

Earlier this year, authorities from the Québec government founded lottery said that 2016-2017 revenues rise to US$2.7 billion, a 2.1 percent rise from the previous year, whilst total prizes totaled US$756 million.