Operator News
Canada – Loto-Québec enjoys its best ever year with record revenues
By Phil - 9 March 2023
Loto-Québec posted total revenues of $2.225bn and a consolidated net income of $1.204B at the end of the third quarter of 2022 to 2023.
It is its best performance since the Tobacco Control Act came into force, significantly impacting traffic at gaming establishments. These represent increases of $521.9m, up 30.7 per cent and $295.8m, up 32.6 per cent, respectively, over the same period last year. Increases over the three first quarters of the pre-pandemic fiscal year (2019–2020) amount to 5.8 per cent for revenues and 11.3 per cent for net income.
Sound management efforts continued across all sectors, which resulted in an excellent ratio of total expenses to revenues of 28.2 per cent, compared to 30.9 per cent over the same period in fiscal 2019–2020.
“Our teams’ sustained efforts led us to these exceptional results and to our best performance in 17 years. All indications are that we will be able to pay a higher dividend than expected to the government, and that benefits all Quebecers. I’m very proud of our work,” said Jean-François Bergeron, Loto-Québec President and CEO. “Many acts of generosity highlighted this quarter, including our participation in the Government of Québec’s Entraide campaign. We also supported other causes with our Détaillants de cœur initiative and remained committed to the fight against food insecurity by organizing, among other things, activities benefiting the Moisson organizations.”
Lottery revenues amounted to $742.2m, which is a $2.6m, or a 0.4 per cent increase over the same period in 2021–2022. Lotto Max performed well. It paid more grand prizes of $50m or more and more Maxmillions than during the same period in 2021–2022. Online lottery sales revenues represent 13 per cent of the sector’s total revenues, compared to 3.7 per cent for the same period in 2019–2020.
Casino and gaming hall revenues stand at $829.3m for a $313.9m, up 60.9 per cent increase over the same period in 2021–2022 and a $69m, a 9.1 per cent increase over the same period in 2019–2020.
The increase over last year can be explained in part by gaming location closures in 2021, whereas operations have returned to normal since the current fiscal year began.
Online casino sales revenues represent 24.3 per cent of the sector’s total revenues, compared to 9.1 per cent for the same period of the pre-pandemic fiscal year.
Gaming establishment revenues amounted to $686.5m, which is a $214.5m, up 45.4 per cent increase over the same period in 2021–2022. Revenues from video lottery terminals remain similar to their pre-pandemic levels.
New sportsbooks were set up, to the delight of sports fans. The first one was at the Casino du Lac-Leamy in November and the second at the Salon de Jeux de Trois-Rivières in January, shortly after the end of the quarter.
