MONTRÉAL, Aug. 31, 2015 /CNW Telbec/ - Fiscal year 2015-2016 started off well for Loto-Québec: the Corporation recorded higher revenues and net earnings for the period from April 1 to June 29, 2015, with revenues reaching $860.5 million (+0.9%) and net earnings of $298.7 million (+2.6%). Tight resource management helped reduce total expenses by $9 million (-3.7%). Those encouraging numbers motivate the Corporation to continue enhancing its entertainment offerings and pursue optimization efforts.
Loto-Québec started off its financial year on a good footing in the lotteries sector, where revenues rose by 3.3% compared to the same period last year, mainly due to the greater number of large Lotto Max jackpots offered. Quebecers were indeed luckier during the period, as indicates the $230.7 million (+3.6%) remitted to winners. In addition, 27 prizes worth $1 million or more were paid out, compared to 11 during the matching period last year. The trend in this sector continues during the current quarter, as sales are higher by 88.9% for Lotto Max and 15.6% for Lotto 6/49 (July 2015 compared to July 2014).
Casinos are also doing well, reporting 6.4% higher net earnings despite a 2.2% drop in revenues. The emphasis placed on entertainment, particularly themed promotions, is benefiting Québec's four casinos.
The greatest progress was marked by gaming halls and bingo, which grew by 34.2% and 40.5%, respectively. However, the gaming hall sector, which also includes the video lottery network, declined slightly by 1.1% due to lower patronage in bars and brasseries and a smaller number of such establishments.
Moreover, revenues from Espacejeux.com climbed by 27.4%, confirming the gain in popularity of online games over the past three quarters.
A strategy that's paying off
During FY 2014-2015, Loto-Québec adopted new strategic directions regarding entertainment, efficiency and responsible commercialization. The positive results in the first quarter support the Corporation's plans to further enhance and diversify its overall entertainment offerings to better meet customer expectations. These results also confirm the emphasis the Corporation is placing on optimizing resources, which is continuing both from the standpoint of offerings and efficiency with a view to producing ever-better results.
The quarterly report (in French only) is available on Loto-Québec's web site at lotoquebec.com/cms/corporatif/fr/la-societe/documentation/centre-de-documentation
Image with caption: "Q1 Revenues and Net Income ( $ M) (CNW Group/Loto-Québec)". Image available at: http://photos.newswire.ca/images/download/20150831_C4113_PHOTO_EN_486925.jpg
Image with caption: "Total Q1 Expenses ($ M) (CNW Group/Loto-Québec)". Image available at: http://photos.newswire.ca/images/download/20150831_C4113_PHOTO_EN_486927.jpg
Image with caption: "Number of $ 1M and higher prizes awarded during Q1 (CNW Group/Loto-Québec)". Image available at: http://photos.newswire.ca/images/download/20150831_C4113_PHOTO_EN_486929.jpg
Image with caption: "Q1 Net Income by sector ($ M) (CNW Group/Loto-Québec)". Image available at: http://photos.newswire.ca/images/download/20150831_C4113_PHOTO_EN_486931.jpg
For further information: Source: Patrice Lavoie, Director, Communications and Press RelationsLoto-Québec, 514-499?5130; Information: Danielle Guillemette, Communications Officer, Loto-Québec, 514-285-2929, ext. 2468