MONTREAL, Sept. 20, 2023 /CNW/ - For the period from April 1 to June 26, 2023, Loto-Québec generated total revenues of $711.2M and a consolidated net income of $380.9M. These results exceed the corporation's expectations and are in line with its growth trajectory. It is also important to note that this performance follows an exceptional year. In the first quarter of last year, Loto-Québec posted a marked increase of 13.4% in total revenues and 32.4% in consolidated net income over the same pre-pandemic period, i.e., in 2019–2020.
In the first quarter of this fiscal year, Loto-Québec's total revenues and consolidated net income increased by $54.9M (+8.4%) and $43.6M (+12.9%), respectively, from the first quarter of the pre-pandemic fiscal year, but decreased by $33.2M (-4.5%) and $65.6M (-14.7%), respectively, compared to the same period last year.
The dip in revenues compared to last year is mainly due to lower Lotto Max sales. The difference in net income is primarily attributable to higher expenses resulting from the full resumption of on-site operations after pandemic-related restriction periods.
QUOTES FROM THE PRESIDENT AND CEO
"I'm very pleased with our teams' efforts and the results achieved. I'd like to point out that we had an exceptional year last year, which set the bar very high. I thank our employees for their invaluable contribution. They have managed to stay the course and deal with the challenges of the past few years," said Jean-François Bergeron.
"All sectors have continued to exercise sound management, despite the increase in spending caused by the full resumption of operations. Thanks to these efforts, we've once again achieved an excellent ratio of total expenses to revenues."
"We saw many noteworthy achievements this quarter, including the first responsible commercialization campaign featuring all game categories. Called So that a game remains a game, it demonstrates the importance we place on our customers' well-being. The spring quarter also coincided with the start of festival season. We're proud to encourage the growth of entertainment and culture and make them more accessible to Quebecers through our sponsorship program, Les rendez-vous Loto-Québec."
RESULTS BY SECTOR
For the period from April 1 to June 26, 2023
Casinos and gaming halls
The casino and gaming hall sector generated revenues of $274.6M, up $11.2M (+4.2%) over the same quarter in 2022–2023. These great results were attributable to the full resumption of operations.
Online casino revenues represent 24.8% of the sector's total revenues.
Lottery
Lottery revenues stood at $224.7M. This represents a decrease of $31.9M (-12.4%) over the same quarter in 2022–2023. The difference is largely due to lower Lotto Max sales, as the lottery game had experienced an exceptional sequence of major grand prizes at the same time last year.
Online lottery revenues represent 12.8% of the sector's total revenues.
Gaming establishments
Revenues from the gaming establishment sector amounted to $216.9M. This represents a drop of $11.6M (-5.1%) over the same quarter in 2022–2023.
Bars were hit hard during the pandemic, resulting in many being closed. As this trend appears to be reversing and retailer demand for terminals remains high, the corporation is in the process of determining how best to continue managing the video lottery terminal offer in a responsible manner.
QUARTERLY HIGHLIGHTS AND CSR CONTRIBUTIONS
Québec has gained 20 new millionaires since the beginning of the fiscal year. These lucky winners shared the 26 lottery prizes of $1M or more won between April 1 and June 26. The total amount awarded to lottery, Kinzo, and network bingo winners during the quarter was $373.6M.
Tickets for the new PLINKO® lottery game were made available at retailers and online on May 1. The game, which offers a host of instant prizes, allows the winners of a "PLINKO®" prize to be welcomed in style at the Casino de Montréal, where they drop a chip on a life-size PLINKO® board for a chance to win between $100,000 and $500,000.
The So that a game remains a game campaign, which ran from May 8 to June 25, was designed to remind Quebecers that they can count on responsible gambling tools, measures, and programs when playing Loto-Québec games or visiting its gaming locations. The campaign has been relaunched in September.
Loto-Québec is proud to be a leading partner in festive, inclusive, and socially responsible events across the province. An advertising campaign launched on May 15 invited Quebecers to attend one of the many festivals that are part of the Rendez-vous Loto-Québec.
Loto-Québec is very proud to be the presenting partner of BIXI Montréal. BIXI stations and bicycles will sport the Loto-Québec logo for the next three years.
The Casino du Lac-Leamy was pleased to take part in the Jean Paul Riopelle centennial celebrations in May. Various teams, including those of Les Grands Feux du Casino du Lac-Leamy and the Hilton Lac-Leamy Hotel, have joined forces to celebrate the invaluable contribution of this pillar of Québec culture.
The quarterly report [PDF – 2.3 MB, in French only] is available on Loto-Québec's website.
SOURCE Loto-Québec
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