First quarter of the 2022-2023 fiscal year - Loto-Québec reports excellent financial results Français
MONTRÉAL, Sept. 23, 2022 /CNW Telbec/ - For the period from April 1 to June 27, 2022, Loto-Québec generated total revenues of $744.3 million and consolidated net income of $446.5 million. This represents an increase of $343.0 million (+85.5%) and $250.8 million (+128.1%), respectively, compared to the first quarter last year, when a number of the corporation's operations were suspended. Meanwhile, not only did net income increase by $109.1 million (+32.4%) compared to the first quarter of the pre-pandemic year, meaning 2019–2020, but the ratio of total expenses to revenues dropped from 31.2% to 22.7% during this period. These strong results were made possible by the sustained efforts of all sectors.
"We're pleased with our first-quarter results. We've exceeded our pre-pandemic levels and are in an excellent position due to tight spending controls, which can be challenging in times of high inflation such as these. These achievements are a result of the remarkable work put in by all our teams," says Jean–François Bergeron.
"With these strong financial results, we're on track to meet our budget target, even though draw-based lottery ticket sales were suspended last week. That said, we'd like to thank the teams who worked so hard to resolve the issues we were experiencing."
"We launched a new phase of our 100% Legal campaign to remind people that lotoquebec.com is the only legal casino and sports betting website in Québec. This campaign is part of our brand repositioning strategy and our effort to cement our place in the industry. It also highlights our integrity and our responsible gambling practices, which are a great source of pride for us."
For the period from April 1 to June 27, 2022
- The lottery sector reported revenues of $256.6 million. Excluding event betting revenues, as they now fall under the gaming establishment sector, this is a decline of $19.2 million (-7.0%) compared to the same quarter in 2021–2022.
- This decrease, which was unsurprising, is mainly the result of a drop in sales of Lotto Max, which had an exceptional run of seven consecutive draws for $70 million, as well as record prize pools, including two of $140 million, during the first quarter of last year.
- Revenues from online lottery sales account for 12.6% of total lottery revenues, compared to 3.1% for the first quarter of 2019–2020. This marked increase is a testament to the continuous improvements that have been made to the website.
- Revenues in the casino and gaming hall sector totalled $263.4 million, up $186.4 million (+242.0%) compared to the same quarter last year, and $34.6 million (+15.1%) compared to the first quarter of the pre-pandemic year.
- Note that land-based casinos and gaming halls were still closed in April and May 2021, and then gradually reopened from June 14 to 30, 2021. The increase in revenues compared to last year is largely attributable to the fact that there were no shutdowns during the first quarter of 2022–2023. It was also driven by the work that was put into making sure the offer continued to appeal to customers.
- Online casino revenues account for 24.3% of total casino and gaming hall revenues, compared to 9.5% for the same period in 2019–2020. Improvements that teams made to the website and initiatives rolled out to distinguish it from illegal gambling websites are paying off.
- The gaming establishment sector reported revenues of $228.5 million. It represents a favourable variance of $179.3 million (+438.4%) compared to the same quarter in 2021–2022.
- This difference is due to many establishments being closed from April 1 to mid-June 2021. Since then, they have gradually resumed their operations. Revenues generated by video lottery terminals in bars were comparable to their pre-pandemic levels.
- Event betting performed well, mainly due to a 33.3% increase in online sales compared to the first quarter of 2021–2022. Single-event betting, which was added to the gaming options in August 2021, is very popular with players and strongly encourages live betting.
- Québec has 19 new millionaires since the beginning of the fiscal year thanks to 30 lottery prizes of $1 million or more having been won in the province.
- A Montérégie resident took home the June 7 Lotto Max jackpot, which had reached $70 million, and also won secondary prizes, for a total win of $70,027,052.
- Following the launches of Formule groupe and Formule groupe en ligne, Formule super groupe was successfully launched in April. This new way to play allows customers to purchase one or more shares in groups created by Loto-Québec, some of which can contain up to 100 shares.
- Since August 1, the 2nd chance Promotion is available to all holders of draw-based lottery tickets. Every month, ticket holders can enter a draw for a chance to win $50,000 in additional prizes.
- Various advertising campaigns were carried out, including the one entitled We're All Play!, which was a reminder that Québec casinos are more lively and exciting than ever.
- Another phase of the advertising campaign to position lotoquebec.com as the only 100% legal online casino and sports betting website in Québec was rolled out in May.
- A multi-platform campaign was launched to raise awareness on the importance of setting a time limit when playing. This is just one of the tools available to online players to ensure that a game remains a game.
- The Bien joué! information kiosks and the slot machine demo area, which have complementary purposes, were combined into one space in each of the four casinos and two gaming halls.
- To improve the overall performance of our buildings, we launched a program to install an electric boiler at the Casino de Montréal. This will reduce our greenhouse gas emissions by 2% per year.
- Through the Rendez-vous Loto-Québec program, the corporation brought people together by sponsoring some 50 socially responsible events. An advertising campaign that boosts Loto–Québec's visibility showcases how the program supports communities, helps to grow the local culture, encourages local artists and artisans, and contributes to the success of festivals across Québec.
- Since April 1, Loto-Québec has been donating $2 for each lottery prize claimed at its establishments to two organizations whose causes it supports: Fondation Les Petits Rois and AlterGo.
- Loto-Québec has given out various prizes and awards to encourage the next generation in fields related to innovation, gaming and entertainment, including the Prix Numix, Jeu – Indépendant and the Coup de cœur – Ingéniosité award as part of the OSEntreprendre Challenge Gala. Each of them included a $5,000 grant.
The quarterly report [PDF – 6.7 MB, in French only] is available on Loto-Québec's website.
SOURCE Loto-Québec
Renaud Dugas, Spokesperson and Head of Media Relations, Loto-Québec, 514-499-5208, [email protected]
Share this article