Canada: Loto-Québec revenue recovers in first quarter
The Canadian provincial lottery operator hopes to reach annual fiscal targets.
Canada.- The provincial lottery operator Loto-Québec is optimistic about reaching annual targets after a strong first quarter of the 2021/22 fiscal year. It’s reported consolidated net income of $196m for the quarter ending June 28, up $260m from a loss of $64m in the same period last year.
Revenues were up 154.9 per cent, or $243.9m, to $401.3m. That’s still down 38.8 per cent from 2019. Lottery remains the largest source of revenue, up 171.6 per cent year-on-year to $284.3m.
JeanFrançois Bergeron, president and chief executive officer of Loto-Québec, said: “Given that the activities put on hold only resumed a few days before the end of the quarter, we achieved solid results. Coupled with the continuation of our operations, we can be optimistic about achieving our annual targets.”
