Loto-Quebec’s online gambling revenue surges

Loto-Quebec, the Canadian province’s gambling monopoly, registered a one-third hike in online gambling revenue in the first half of the fiscal year.

Loto-Quebec reported an overall revenue of C$1.394b (US$1.06b) in the six months ending September 25, which represents 4.6 per cent gain year on year. Net income increased by 6.3 per cent to C$721.6m.

Loto-Quebec’s lottery revenue rose by 15.6 per cent to C$467m, while casino revenue remained steady at C$453.7m. The only fall in revenue was reported for the “gaming establishments” segment, which fell by less than 1 per cent to C$485.5m as the government continues to lessen its reliance on video lottery terminals in bars, clubs and bingo halls.

Revenue from Loto-Quebec’s Espacejeux online gambling site was up 32.6 per cent to C$49.3m. Online lottery revenue totalled C$14.4m, a healthy 58.7 per cent year-on-year improvement, while online casino (including poker) revenue improved 24 per cent to slightly less than C$34.9m. Espacejeux’s revenue for Loto-Quebec’s fiscal second quarter was C$27.7m, a healthy 28.2 per cent rise over Q1’s online total.

In July, Quebec’s Superior Court ordered the province to scrap its proposal to force local internet service providers to block the domains of Espacejeux’s internationally licensed competitors. This plan was part of the province’s controversial Bill 74, which was approved in 2016.

Source: CalvinAyre