Loto-Québec reports revenue of $689.7m in Q1
The corporation said the results aligned with its forecast.
Canada.- The provincial lottery operator Loto-Québec has posted revenue of $689.7m and a consolidated net income of $349.7m for Q1 of its fiscal year 2024-2025. Between April 1 and June 24, lottery product sector revenues amounted to $219.1m, while casino and gaming hall sector revenues were $275m and gaming establishment sector revenues $200.7m.
The lottery sector paid out $337.4m in prizes to winners.
The corporation said the results “fully align with its forecast”. Nevertheless, they reflect drops of three per cent and 8.2 per cent over the 87-day first quarter of fiscal 2023–2024. The operator said the drop was largely because the quarter was two days shorter.
“The gap in net income is entirely due to one-time events in the first quarter, including the two days less, which will be resolved as the year progresses”, it said.
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President and CEO Jean-François Bergeron said: “Our teams’ remarkable commitment and work led to very satisfying results that align with our forecasts. This enables us to continue facing the upcoming months with optimism. The efforts to improve efficiency and the principles of social responsibility remain at the core of our priorities across all sectors.”
“Throughout the quarter, our teams put their talent and skills to work to continue enhancing our offering. Several new initiatives and improvements were implemented both online and at gaming locations. Our customers greatly enjoy the wide variety of activities we have for them at casinos and gaming halls.”
“Once again, we’ve invited Quebecers to join us at the fifty or so festivals we support across Québec. We’re proud to cooperate with events that share our environmental responsibility values and continue to support organizers as they take steps toward this goal.”
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