MONTRÉAL, Nov. 2, 2015 /CNW Telbec/ - For the second consecutive quarter, Loto-Québec is reporting higher revenues and net earnings. The progress achieved in the first quarter continued, even gaining further ground, during the period from June 30 to September 28, 2015. Comprehensive income for the second quarter reached $889.1 million and net income, $318.9 million, or an increase of $58.8 million (+7.1%) and $23.3 million (+7.9%), respectively, compared to the same period last year.
Halfway through the fiscal year, revenues reached $1.750 billion, an increase of $66.2 million (+3.9%), for the period from April 1 to September 28. Net income was reported at $617.6 million, up by $30.8 million (+5.2%). "The upward trend in revenues and net earnings is reflected in each of the Corporation's business sectors. The shift we implemented during the last strategic planning initiative, which focuses activities on entertainment and efficiency, generated the positive results we hoped for," said Gérard Bibeau, Loto-Québec's President and CEO.
The lotteries sector grew the most, with sales up by $64.2 million (+7.9%) during the first six months of the fiscal year. That excellent performance is mainly due to the many large Lotto Max prizes offered and the media visibility given to our winners, as dictated by our strategy to highlight big wins. Quebecers were again quite lucky, as they were able to take home $461.7 million in lottery prizes (+8.2%), of which 45 were worth $1 million of more (+66.7%).
Mid-year, casino revenues rose slightly by $1.0 million (+0.3%). The summer season generated better results at the Casino de Montréal (+2.9%), Casino du Lac-Leamy (+2.2%) and Casino de Mont-Tremblant (+1.0%). On the other hand, quarterly results dipped at the Casino de Charlevoix (-6.3%).
Revenues from Espacejeux.com, which offers casino games, lotteries and bingo, reached $28.3 million, which increased by $6.2 million (+28. 2%).
Combined revenues for gaming halls grew by $7.0 million (+42.5%), for the most part due to the outstanding performance of the Salon de jeux de Québec, despite a slowdown in the bar and brasseries network (-$11.0 million, or -2.4%), mainly attributable to their smaller number. The bingo sector continues to grow, reporting a significant $4.2 million increase in revenues (+37.8%), a result of the great popularity of new features. All told, the gaming establishments sector posted slightly higher revenues (+0.1%).
Throughout the 6-month period, the Corporation continued to exercise sound management and further reduced total expenses by $6.4 million (-1.3%). The planned transfer of the Québec City office to commercial space adjacent to the gaming hall and a revamped system for lottery ticket distribution to retailers are part of a series of optimization measures that are expected to push expenses down during fiscal year 2016-2017.
The quarterly report is available on Loto-Québec's web site at http://lotoquebec.com/cms/corporatif/en/the-corporation/documentation/documentation-centre (French only).
Image with caption: "Q2 Revenues and Net Income ($M) (CNW Group/Loto-Québec)". Image available at: http://photos.newswire.ca/images/download/20151102_C1558_PHOTO_EN_534202.jpg
Image with caption: "First half of the year - Revenues and Net Income ($M) (CNW Group/Loto-Québec)". Image available at: http://photos.newswire.ca/images/download/20151102_C1558_PHOTO_EN_534206.jpg
Image with caption: "First half of the year - Revenues by sector ($M) (CNW Group/Loto-Québec)". Image available at: http://photos.newswire.ca/images/download/20151102_C1558_PHOTO_EN_534216.jpg
Image with caption: "First half of the year - Net income by sector ($M) (CNW Group/Loto-Québec)". Image available at: http://photos.newswire.ca/images/download/20151102_C1558_PHOTO_EN_534210.jpg
For further information: Patrice Lavoie, Director, Communications and Press Relations, Loto-Québec, 514-499‑5130