Loto-Québec revenue increases 35% year-on-year in fiscal year 2022-2023

The provincial lottery operator has released its results for the fiscal year 2022–2023.

Canada.- The provincial lottery operator Loto-Québec has released its results for the fiscal year 2022–2023. The operator registered revenue of CA$2.9bn, a 35.2 per cent increase year-on-year. It made a dividend payout of CA$1.6bn to the Government of Québec.

It’s Loto-Québec’s best performance since the Tobacco Control Act came into force in 2006. Net income was CA$1.6bn, up 40 per cent compared to the 2021–2022 fiscal year. The casino and gaming hall sector recorded revenue of CA$1.1bn, an increase of CA$444m over the prior fiscal year. Online casino revenue increased CA$4.6m to CA$269.9m. VLTs, Kinzo, and network bingo accounted for CA$922.2m in revenue which was an increase of CA$362m over the previous fiscal year.

Its gaming platform, which offers lottery, casino titles and sports betting generated CA$403.9m, an increase of 3.3 per cent from 2021-22’s results. Lottery revenues amounted to CA$996.1m, down 1.1 per cent compared to 2021–2022. Online lottery sales revenues were CA$124.2m, up 5.4 per cent and representing 12.5 per cent of lotter revenues.

In the fiscal year 2022-2023, Loto-Québec invested CA$33.6m in preventing problem gambling.

President and CEO Jean-François Bergeron said: “Our teams came together to provide the people of Québec with the gaming and entertainment experience Loto–Québec is known for, and their work and the overall sound management yielded exceptional results. We have our talented and dedicated employees to thank for being in such a good position after some difficult years. There’s a lot to be proud of when you consider that 100% of what we generate goes back to the people and province of Québec.”