Loto‑Québec is on track to meeting its target

in Finance

“At this point in the fiscal year, we can confidently announce that we are on track to meeting, and even exceeding, our annual net income target of $1.295 billion,” said President and CEO Lynne Roiter.

Montréal, February 14, 2020 – Three-quarters through the 2019-2020 fiscal year, Loto-Québec reports total revenues of $2.101 billion and consolidated net income of $1.082 billion.

QUOTE

“At this point in the fiscal year, we can confidently announce that we are on track to meeting, and even exceeding, our annual net income target of $1.295 billion,” said President and CEO Lynne Roiter. 

HIGHLIGHTS

  • In the lottery sector, revenues declined compared to the same period last year. The decrease is due to Lotto Max, which offered fewer jackpots of $50 million or more and Maxmillions prizes than in 2018–2019, which was an exceptional year as for the number of major jackpots offered. 

  • Loto-Québec paid out several major prizes during the last quarter, including jackpots of $50 million and $32 million. 

  • Casino and gaming hall revenues continued their upward trend.

  • The online gaming site once again recorded higher revenues for both lottery and casino games.

  • Revenues from the bar network were lower, mainly because of terminal withdrawals in areas targeted by the video lottery terminal network action plan.

  • Revenues from bingo and Kinzo halls continued to grow.

  • The World Lottery Association has renewed Loto-Québec’s Level 4 Certification—the highest level of accreditation for responsible gambling in the world. 

  • December 23, 2019, marked 50 years since the inception of Loto-Québec. The Corporation will be highlighting its history and launching several initiatives geared at its customers throughout the year.

The quarterly report is available on Loto-Québec’s website.

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Source:
Marisol Schnorr
Head of Media and Public Affairs
Loto-Québec
514-499-8691
This email address is being protected from spambots. You need JavaScript enabled to view it.
 

Information:
Renaud Dugas
Senior Advisor, Media and Public Affairs
Loto-Québec
514-499-5208
This email address is being protected from spambots. You need JavaScript enabled to view it. 

https://societe.lotoquebec.com/en/media-and-partners/press-releases/2020/fevrier-2020/troisieme-rapport-trimestriel-2020-02-14