Loto-Québec Presents Very Good Results 1Q Fiscal Year 2023-2024
Montreal, September 20, 2023 – For the period from April 1 to June 26, 2023, Loto-Québec’s activities generated total revenues of $711.2 million and consolidated net income of $380.9 million. These results are higher than the Company’s expectations and are in line with its growth trajectory. It should also be noted that this performance follows a year that proved to be exceptional. Indeed, in the first quarter of last year, Loto-Québec experienced marked increases of 13.4% for its total revenues and 32.4% for its consolidated net income compared to the same pre-pandemic period, i.e. in 2019-2020.
For the first quarter of the current fiscal year, Loto-Québec’s total revenues and consolidated net income show respective increases of $54.9 million (+8.4%) and $43.6 million (+12 .9%) compared to the first quarter of the pre-pandemic fiscal year, but respective decreases of $33.2 million (-4.5%) and $65.6 million (-14.7%) compared to the same period of the previous financial year.
The variance in revenue compared to last year is mainly attributable to the decline in Lotto Max sales. The difference in net income is explained in particular by the higher costs caused by the complete resumption of establishment activities after periods of restrictions linked to the pandemic.
QUOTES FROM THE PRESIDENT AND CEO
“I am very satisfied with the work of the teams and the results obtained. I would like to point out that these follow an exceptional year, which set the bar very high. I thank the employees for their valuable contribution. They were able to stay the course and face the ups and downs of recent years,” says Jean-François Bergeron.
“All sectors continued to exercise sound management, despite the increase in expenses caused by the complete resumption of activities. Thanks to these efforts, we are once again posting an excellent ratio of total product expenses. »
“Several of the quarter’s achievements are worthy of note, including the first campaign on responsible marketing which brings together all our gaming categories. Entitled Question that gaming remains a game , it demonstrates the importance we attach to the well-being of our customer base. The spring term also coincides with the launch of the festival season. We are proud to promote the development and accessibility of entertainment and culture for Quebecers with our sponsorship program, Les rendez-vous Loto-Québec . »
RESULTS BY SECTOR
For the period from April 1 to June 26, 2023
Casinos and gaming halls
- The casino and gaming lounge sector posted revenues of $274.6 million, which represents an increase of $11.2 million (+4.2%) compared to the same quarter of 2022-2023. The good results can be explained by the complete resumption of activities.
- Online casino products represent 24.8% of the sector’s total products.
- Revenues from the lottery sector amounted to $224.7 million. This is a decrease of $31.9 million (-12.4%) compared to the same quarter in 2022-2023. The difference is largely attributable to the drop in Lotto Max sales, which had experienced an exceptional sequence of major jackpots at the same period last year.
- Online lottery revenues represent 12.8% of the sector’s total revenues.
- Revenues from the gaming establishment sector total $216.9 million. This is an unfavorable variance of $11.6 million (-5.1%) compared to the corresponding quarter in 2022-2023.
- The bar industry has been hit hard during the pandemic, leading to many establishment closures. While this trend appears to be reversing and demand for the devices from retailers remains high, the Company is determining the best way to continue to manage the supply of video lottery machines responsibly.
HIGHLIGHTS AND SOCIETAL CONTRIBUTIONS OF THE QUARTER
- Quebec has had 20 new millionaires since the start of the fiscal year. These lucky people shared the 26 prizes of $1 million or more won in the lottery between April 1 and June 26. The total amount awarded to winners of the lottery, Kinzo and network bingo during the quarter amounts to $373.6 million.
- On May 1 , tickets for the new PLINKO ® lottery arrived at retailers and online. This lottery, which offers a host of instant prizes, allows winners of a “PLINKO ® ” prize to be welcomed in style at the Montreal Casino, where they drop a disc on a real PLINKO ® board and thus get lucky to win from $100,000 to $500,000.
- The Question that the game remains a game campaign , which ran from May 8 to June 25, aimed to remind Quebecers that they can count on responsible gaming tools, measures and programs when they play games. of Loto-Québec or visit its establishments. It was relaunched in September.
- Loto-Québec is proud to be one of the main partners of festive, unifying and socially responsible events throughout the province. An advertising campaign launched on May 15 invited Quebecers to go to one of the many festivals that are part of the Rendez-vous Loto-Québec .
- It is with great pride that Loto-Québec has become the presenting partner of BIXI Montréal. For the next three years, stations and bicycles will bear the colors of the state corporation.
- The Casino du Lac-Leamy had the pleasure of taking part in the celebrations of the centenary of Jean Paul Riopelle in May. Different teams, including those of the Grands Feux du Casino du Lac-Leamy and the Hilton Lac-Leamy, joined forces to salute the invaluable contribution of this pillar of Quebec culture.