MONTRÉAL, Aug. 30, 2019 /CNW Telbec/ - At the end of the first quarter of the 2019–2020 fiscal year, Loto-Québec is reporting total revenues of $656.1M and a consolidated net income of $337.4M.
"Since 2015–2016, our total first-quarter revenues (for the same number of days) have increased by $70.0M (+11.9%), while total expenses over the same period have risen by just 1.9%. As for our consolidated net income, it saw a $63.9M (+23.4%) increase, to which all sectors contributed," says President and CEO Lynne Roiter.
The lottery sector saw a decrease in revenues (-11.6%) due in part to fewer Maxmillions being offered through Lotto Max (32, compared to 199 in the first quarter of 2018–2019), and a sales decline of special-edition tickets, because the 100$ ULTIME ticket was not brought back this year. On the other hand, the Corporation paid out a $65M jackpot—the biggest in its history.
The casino sector reported stable revenues compared to the same quarter last year. For the same number of days, revenues are up $2.1M (+1.0%).
- Gaming establishments
The bar network saw a decline in revenues (-1.2%), while revenues at gaming halls (+4.1%), bingo halls (+16.5%) and Kinzo halls (+13.4%) rose. Electronic bingo was a contributing factor in higher bingo hall revenues.
- Online gaming
Revenues from the online gaming website—lottery and casino games combined—grew by $5.6M (+23.8%).
For further information: Source: Marisol Schnorr, Head of Media and Public Affairs, Loto-Québec and its subsidiaries, 514-499-8691, email@example.com; For more information: Renaud Dugas, Senior Advisor, Media and Public Affairs, Loto-Québec and its subsidiaries, 514-499-5208, firstname.lastname@example.org