Loto-Québec reports $528.2m in quarterly revenue

The provincial lottery operator registered a net income of $282.9m.

Canada.- The provincial lottery operator Loto-Québec has released its financial results for the first quarter of the fiscal year 2023-2024. It reported revenues of CA$711.2m ($528.2m) and a net income of CA$380.9m ($282.9m).

Revenue was up 8.4 per cent (CA$54.9m) when compared to pre-pandemic numbers but was down 4.5 per cent year-over-year. Consolidated net income was up 12.9 per cent or CA$43.6m ($32.4m) against 2019 but down by 14.7 per cent year-on-year.

For the period between April 1 and June 26, casino revenue was CA$274.6m ($204m), up by 4.2 per cent year-over-year. Almost a quarter of that was attributed to online casino. Loto-Quebec’s lottery revenues reached CA$224.7m ($166.9m), down 12.4 per cent or year-over-year.

Loto-Québec cancels opening of VLTs near Bell Centre

Loto-Québec has announced the cancellation of its plans to open approximately 300 video lottery terminals (VLTs) near Bell Centre, in downtown Montreal. The decision comes after Montreal Public Health (Direction régionale de santé publique or DRSP) expressed opposition to the project, citing concerns over the location and the association with Groupe CH. Loto-Québec said it respects the DRSP’s opinion but views the cancellation as a “missed opportunity.”