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2018-2019 Fiscal Year – Third Quarter: Loto-Québec set to meet goals

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2018-2019 Fiscal Year - Third Quarter: Loto-Québec set to meet goals
Reading Time: 2 minutes

 

After three quarters of its 2018-2019 fiscal year completed, Loto-Québec reports consolidated revenues of $2.165 B and net income of $1.122 B. These numbers represent respective increases of $156.9 M (+7.8%) and $103.0 M (+10.1%) compared to the same period in the previous fiscal year.*

KEY FIGURES AFTER THREE QUARTERS



2018-2019

2017-2018

Consolidated revenues

$2.165 B

$2.008 B

Net income

$1.122 B

$1.019 B

QUOTE

“In light of these positive results, we can state that we are on track to achieve our annual target for net income set at $1.261 B, and thus pay the government the dividend expected,” said the President and CEO of Loto-Québec, Lynne Roiter.

HIGHLIGHTS

  • Lotteries Autumn saw several exceptionally large Lotto Max jackpots, including a draw in which the total prize money to be won reached a record $116 M. An increase in instant lottery sales and a good performance by Lotto Max are the main reasons for the increase in revenues in this sector (+18.0%).
  • Casinos The holiday period was especially busy in Québec’s casinos, as the Casino de Montréal began its 25th anniversary celebrations. Good results were achieved throughout the sector (+4.2%), supported by themed activities showcasing various forms of entertainment.
  • Gaming establishmentsAn important step in the video lottery terminal (VLT) network action plan has been completed with the final mandatory withdrawal of terminals from targeted areas. The total number of VLTs is now under 10,000. The increase in revenues in this sector (+2.3%) is explained by the six additional days in the period’s calendar as well as a rise in gaming hall activities.
  • Online gamingBoth casino games and lottery products continued to grow. Total revenues from lotoquebec.com increased by 32.0%.

*The first three quarters of 2018-2019 have six more days than the same period in the previous fiscal year.

Note: Due to new accounting methods, prizes paid out are now deducted from lottery, bingo and Kinzo revenues, as was already the case for casinos and video lotteries (more details are available on page 6 of the quarterly report). Figures for 2017-2018 were therefore adjusted. Gross profit and net income were not affected.

The quarterly report is available on Loto-Québec’s website.

 

Source: Loto-Québec

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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