Quebec Loto Revenue Up One Third
First quarter revenue for Quebec Loto increased by one-third in the current fiscal year. Bigger jackpots offered in the lottery contributed to the rise. In the three months ending June 25, Loto Quebec provincial gaming monopoly reported a 6.4 percent improvement quarter-on-quarter. The reported revenue of the entity improved to C$686.5 million (US$521.5 million). The net income has done much better, adding 10.7 percent over the previous quarter to C$359.8 million.
The four land-based casinos could not improve their revenue as numbers remained flat at C$213.5 million. The Casino de Montreal could have fared better in the quarter, but Loto Quebec suggests that casino revenue is down because they operated one day less than the previous quarter. It further says that adding one extra day to the first quarter’s operations would increase casino revenue by 1.4 percent.
Disappointing numbers were reported in the ‘gaming establishments’ division as well. Revenue in this segment was C$234 million, a 1.4 percent decline from the previous quarter. The government’s consistent effort to reduce video lottery terminals in public places like bingo halls, clubs and bars led to the decline.
The core lottery division experienced the highest rise in revenue as the amount for Lotto Max jackpots increased. The lottery revenue increased by 22.5 percent to C$244.4 million. Sales for Lotto Max brought C$62.3 million, up by 71 percent. Lotto Max also represents over 25 percent of total lottery sales in the quarter. A Quebec resident winning a record-breaking C$60 million on June 8 added to the sales of the ticket.
Good reports poured in from Espacejeux.com, the company’s online gambling site. Revenues during the period reached C$21.6 million, registering a 34.9 percent jump. Online casino products brought C$16.5 million, witnessing 18.5 percent growth. Online lottery sales also improved by 61 percent, bringing in C$7.1 million.
Despite good numbers, Espacejuex’s Quebec performance fades in comparison to its British Columbia peers. Quebec has 3.5 million more residents than British Columbia. However, its performance is better than Ontario, which has 5 million more residents.
The numbers are not expected to grow as highly in the second quarter as the Quebec Superior Court Justices have refused to allow the province to block internationally licensed gambling operators.
The province’s health minister Gaetan Barrette also seeks to launch a C$35 million plan to help residents overcome addiction issues. The program focuses on online gambling addiction, opiate, and drug abuse.