MONTREAL, June 14, 2012 /CNW Telbec/ - Minister of Finance Raymond
Bachand tabled Loto-Québec's Annual Report for the April 1, 2011 to
March 31, 2012 fiscal year in the National Assembly this morning.
Loto-Québec had revenues of 3.658 billion dollars during this period,
and net earnings of 1.285 billion. All sectors of the Corporation's
business performed satisfactorily in 2011-2012. At a level of
1.789 billion dollars, lottery sales were practically identical to
those of last year (+0.1%). The new Lotto Poker game, whose success was
confirmed by sales of 88.7 million dollars, as well as the appeal of
instant lotteries, sports betting, teleactive lotteries and special
editions compensated for the Lotto Max slowdown that was due to fewer
jackpots that included Maxmillions being offered.
Casino sector sales rose by 1.7% over the previous fiscal year, reaching
871 million dollars. Worth noting, all four casinos had higher sales.
Growth at the Casino de Montréal was 1.3%, while the Lac-Leamy,
Charlevoix and Mont-Tremblant casinos respectively gained 1.9%, 2.9%
and 7%. Espacejeux.com, which is included in the casino sector,
recorded sales of 19.4 million dollars.
Sales in the video lottery network were 998 million dollars, which is
comparable to last year's figure. However, the Québec City and
Trois-Rivières gaming halls saw their combined sales rise by 9.6%.
Stimulated by the opening of eight new Kinzo express establishments,
bingo sales rose by 8.4% over last year and reached 34 million dollars.
Rigorous cost management
The Corporation's net income was similar to 2010-2011 figure, taking
account of the capital value of loans to Casinos Développement Europe
and its subsidiaries, as presented in the last provincial budget.
Moreover, Loto-Québec fully complied with the requirements of the
Balanced Budget Act and measures to improve productivity, resulting in
savings of 43 million dollars. Even before these measures came into
effect, the Corporation's controls on operational expenses enabled it
to maintain them at 1.5% for the last nine years, a figure below the
average rate of inflation in Québec.
A major economic and social contribution
The economic impact of the Corporation's activities was substantial. For
example, lottery and bingo winners took home prizes totalling
948.8 million dollars, including 59 of one million dollars or more.
Purchases from companies conducting business in Québec totalled
460 million dollars, while 347.9 million dollars were paid out as
commissions to partners in the lottery, video lottery and bingo
The impact was felt just as strongly in the area of social
contributions, with 30.3 million dollars being spent on fighting
problem gambling, 17.1 million paid to NPOs and some 14 million used to
sponsor popular events throughout Québec.
In its constant desire to evolve with its social, economic and
technological environment, the Corporation showed innovation and
creativity in a variety of ways, such as organizing the Loto-Québec
Grand Poker Tournament at Casino du Lac-Leamy, enabling Mise-o-jeu on
the espacejeux.com web site, opening Kinzo express establishments and
moving the modernization work forward at the Casino de Montréal.
The abovementioned recent tournament was the most prestigious poker
event ever held in Canada. The tournament winner will represent
Loto-Québec this July at The BIG ONE for ONE DROP™ tournament in Las
Vegas, which is part of the World Series of Poker. Tournament entry
fees are one million dollars, of which 11.1% go to the ONE DROP®
Foundation that was created by Guy Laliberté.
Sports fans have been able to place bets online line since March 26,
2012, using a computer, tablet computer or smartphone. The Mise-o-jeu
mobile applications were designed by the games of chance research,
development and marketing team at Loto-Québec's Ingenio subsidiary. As
well, the online gaming offer will be soon enhanced by the addition of
lotteries and bingo games.
Looking to protect the revenue stream of non-profit organizations that
count on bingo as their major source of funding, the Corporation opened
eight Kinzo express rooms in Joliette, LaSalle, Laval, Longueuil,
Québec City, Repentigny, Saint-Eustache and Vaudreuil-Dorion. Based on
the positive reception Kinzo express has received from the public, the
network will be extended during the next fiscal year.
Additionally, major modernization work continued at the Casino de
Montréal, on time and on budget. While work will continue until the
fall of 2013, some stages have now been completed. For example, the new
main entrance was inaugurated in April, and other sections of the
revamped Casino will open gradually, including its restaurants.
A rejuvenated corporate web site
The rejuvenated corporate web site, online since May, is the result of
the collaborative work of a multidisciplinary team. The site is more
user-friendly, encourages intuitive browsing and facilitates access to
information. Better adapted to Web 2.0, the site encourages dialogue
and enables linkage between various types of users. In all, the
Corporation and its subsidiaries maintain some 30 web sites, all of
which can be accessed through the lotoquebec.com portal.
Relocating the Québec City gaming hall
The relocation of the Québec City gaming hall stems from the city's
decision to construct a new arena. Loto-Québec has until 2014 to move
the gaming hall, which will be replaced by offices, a Québecor
television studio and a restaurant and bar.
A new president and new faces on the Board of Directors
On November 7, 2011, Gérard Bibeau succeeded Alain Cousineau - who had
held the position from 2003 to 2011 - as the Corporation's President
and Chief Executive Officer. The Board of Directors welcomed five new
members: Lynda Durand, Nathalie Goodwin, Anie Perrault, Alain Albert
and Jean-André Élie. The Board now has 12 members, 6 women and 6 men.
KEY FISCAL YEAR FIGURES
(in thousands of dollars)
Prizes awarded - lotteries
Prizes awarded - bingo
The Annual Report is now available on the Loto-Québec web site.
For further information:
Director of Media Relations