2019-2020 Third Quarter – Loto-Québec is on Track to Meeting Its Target
MONTRÉAL, Canada — Three-quarters through the 2019-2020 fiscal year, Loto-Québec reports total revenues of $2 .101 billion and consolidated net income of $1 .082 billion.
“At this point in the fiscal year, we can confidently announce that we are on track to meeting, and even exceeding, our annual net income target of $1 .295 billion,” said President and CEO Lynne Roiter
- In the lottery sector, revenues declined compared to the same period last year. The decrease is due to Lotto Max, which offered fewer jackpots of $50 million or more and Maxmillions prizes than in 2018–2019, which was an exceptional year as for the number of major jackpots offered.
- Loto-Québec paid out several major prizes during the last quarter, including jackpots of $50 million and $32 million.
- Casino and gaming hall revenues continued their upward trend.
- The online gaming site once again recorded higher revenues for both lottery and casino games.
- Revenues from the bar network were lower, mainly because of terminal withdrawals in areas targeted by the video lottery terminal network action plan.
- Revenues from bingo and Kinzo halls continued to grow.
- The World Lottery Association has renewed Loto-Québec’s Level 4 Certification—the highest level of accreditation for responsible gambling in the world.
- December 23, 2019 , marked 50 years since the inception of Loto-Québec. The Corporation will be highlighting its history and launching several initiatives geared at its customers throughout the year.
SOURCE Loto-Québec.Tags: lottery, Loto Quebec, Canada, Financials