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 networks.
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||930,655||918,948||1.3%|
|Prizes awarded - bingo||18,103||15,692||15.4%|
The Annual Report is now available on the Loto-Québec web site.
For further information:
Director of Media Relations