Loto-Québec presents results in line with its budget target for the 2019-2020 fiscal year

in Lottery

"It's important to note that, if it weren't for our establishments and video lottery terminals in bars having to shut down, and sales at lottery retailers having to be suspended, our financial results would have been at the same level as the previous fiscal year. In addition, thanks to our efficient management, we were once again able to reduce our total expenses, which saw a $14.7 million, or 1.6%, decrease," said Lynne Roiter, President and CEO of Loto-Québec.

MONTRÉAL, Sept. 15, 2020 /CNW Telbec/ - Loto-Québec's 2019-2020 Annual Report was tabled today in the National Assembly. Loto-Québec's total revenues reached $2.741 billion. The consolidated net income of $1.353 billion surpassed the budget target by $58.1 million (+4.5%) despite the fact that the Corporation ceased almost all of its activities as of mid-March.

QUOTE

"It's important to note that, if it weren't for our establishments and video lottery terminals in bars having to shut down, and sales at lottery retailers having to be suspended, our financial results would have been at the same level as the previous fiscal year. In addition, thanks to our efficient management, we were once again able to reduce our total expenses, which saw a $14.7 million, or 1.6%, decrease," said Lynne Roiter, President and CEO of Loto-Québec.

HIGHLIGHTS

  • Lotteries: revenues of $929.4 million
    The lottery sector showed excellent results despite points of sale having to shut down on March 20, which had an impact on revenues. Loto-Québec awarded the biggest prize in its history, $70 million, to a family from the Capitale-Nationale and Chaudière-Appalaches regions in February 2020.
  • Casinos and gaming halls: revenues of $963.7 million
    The sector saw an increase in revenues, stemming in part from the transfer of gaming halls to the Société des casinos du Québec (SCQ). Furthermore, this increase was impacted by the shutdown of land-based casinos and gaming halls on March 13, although this did not prevent the sector from achieving its objectives. The teams' strong performance also made it possible to deliver a unique and varied entertainment experience that appealed to customers.
  • Gaming establishments: revenues of $872.6 million
    The gaming establishment sector, which includes video lottery terminals (VLTs) in bars, bingo halls and Kinzo halls, saw a decrease in revenues, mainly due to the transfer of gaming halls to the SCQ and the shutdown of VLTs on March 14. Excluding these impacts, revenues in this sector have been stable, although there is a decline in places where VLTs have been removed.
  • Online gaming: revenues of $135.9 million
    The revenues generated by lotoquebec.com are included in both the lottery and casino portions of the financial results. Many new products, such as instant games and virtual sports, were added this year.
  • Responsible gambling
    For the third time, the Corporation saw its World Lottery Association Level 4 Certification—the highest level awarded for responsible gambling—renewed, a testament to the quality of its responsible gambling measures.
  • Agility and innovation
    During this ongoing pandemic, the Corporation demonstrated its ability to be agile and innovative by effectively adapting to this unprecedented and ever-changing situation. It acted quickly and responded to the challenges posed by the public health crisis by prioritizing the health and well-being of its customers and employees.
  • Solidarity
    As a show of solidarity with Quebecers, Loto-Québec implemented various measures, including donating $1 million to the Moisson du Québec, donating disinfectant and masks to the Ministère de la Santé et des Services sociaux, and reopening the Casino de Montréal's and Casino du Lac-Leamy's kitchens to prepare more than 50,000 meals a week for those in need as part of a project with La Tablée des Chefs. Loto-Québec also continued to sponsor events and festivals despite their cancellation.
  • 50th anniversary
    The end of 2019 marked Loto-Québec's 50th anniversary. This important milestone was an opportunity to highlight how far the organization has come in providing first-rate entertainment in a safe environment for the greater benefit of all.

The 2019–2020 annual report [in French only, PDF – 8.2 MB] is available on Loto-Québec's website. The English version will be available at a later date.

SOURCE Loto-Québec

 

Cision View original content: http://www.newswire.ca/en/releases/archive/September2020/15/c8341.html

Source and information: Patrice Lavoie, Corporate Director, Media and Public Affairs, Loto-Québec and its subsidiaries, 514-499-5130, This email address is being protected from spambots. You need JavaScript enabled to view it., twitter.com/patricelavoie; Renaud Dugas, Senior Advisor, Media and Public Affairs, Loto-Québec and its subsidiaries, 514-499-5208, This email address is being protected from spambots. You need JavaScript enabled to view it.ht CNW Group 2020

https://stockhouse.com/news/press-releases/2020/09/15/loto-qu-xe9-bec-presents-results-in-line-with-its-budget-target-for-the-2019