Online gaming grows in Canada
The online gaming industry in Canada continues to grow, as shown by provincial lottery operator Loto-Québec’s 3.1% revenue increase in 2018-19.
Canada.- The online gaming segment is the most successful segment in recent years. Canadian lottery operator Loto-Québec continues to thrive on it, as it posted a revenue increase in the latest financial year.
During FY2018-19, online gaming in Canada helped the company’s revenue to increase by 3.1% from the previous period. That way, it managed to rake €1.89 billion, as the iGaming offering grew to €70.04 million.
Land-based venues run by Loto-Québec generated revenue of €650.9 million, down 0.2% year-on-year. That includes gaming machines in bars alongside gaming, bingo and Kinzo halls.
According to Lynn Roitier, Loto-Québec CEO & president, lower revenue from the network of machines in bars and restaurants was the reason for the decline. Such revenue drop came from a drive to reduce video lottery terminals across its network. As of December 2018, VLTs amounted to less than 9,900 machines.
The second-largest revenue source was the lottery, which reached €635 million after growing by 8.7%. According to Roitier, it had a “remarkable” year thanks to the high jackpots offered on the Lotto Max game. It was also supported by an increase in betting and instant win games.
Meanwhile, draw based game revenue rose to €500 million (up 8%). Instant win games contributed €114.5 million (up 12.9%) and sports betting grew 7.9% to €20.6 million.
