Loto-Québec’s Q2 Revenue Soars with Promising Half-Year Results

Jean-François Bergeron, President and CEO of Loto-Québec, credited the corporation’s success to efforts across all operational areas. He remarked, “If we’re in such a good position halfway through the fiscal year, it’s thanks to the work done across all our sectors over the last few months. We obtained excellent results despite the economic context, reinforcing our confidence that we’ll reach our net income annual target. that 100% of our profits are reinvested in the community.”

Strong First Half Bolsters Confidence

For the first half of the fiscal year, spanning April 1 to September 30, Loto-Québec generated total revenues of $1.504 billion, marking a 6.5% year-over-year increase. Net income reached $771.3 million, up 4.7% compared to the previous fiscal year’s first half.

A breakdown of sector performance from April 1 to September 30 reveals:

• Lottery products: $474.2 million in revenue.
• Casino and gaming halls: $608.9 million in revenue.
• Gaming establishments: $432.5 million in revenue.

Loto-Québec continued its commitment to responsible gambling by launching its revamped Wise Play website in September. This updated platform offers educational content to help players gamble responsibly and seek assistance if needed.

Bergeron emphasized the corporation’s dedication to ethical practices, stating, “Responsible commercialization has remained a priority in everything we offer. We proudly launched [Wise Play] along with a campaign raising people’s awareness of the importance of setting limits.”

In addition to enhancing its responsible gambling initiatives, Loto-Québec celebrated the creation of 28 new millionaires during the second quarter, bringing the fiscal year’s total to 50. The lottery sector alone has distributed nearly $720 million in prizes since April.

Meanwhile, construction of a new 200-room hotel near the Casino de Montreal is underway. This development aims to strengthen the casino’s appeal as a premier entertainment destination.

During the first quarter, spanning April 1 to June 24, Loto-Québec reported revenues of $689.7 million and net income of $349.7 million. Sector-specific figures included $219.1 million for lottery products, $275 million for casinos and gaming halls, and $200.7 million for gaming establishments.

The second quarter’s significant revenue and income gains reflect Loto-Québec’s ongoing operational success. Bergeron praised the organization’s team for their dedication, adding, “Our teams’ ongoing commitment in all sectors of the organization and the sound management efforts led to these excellent results, which will help Loto-Québec significantly contribute to the community once again.”

With a strong first half, a focus on responsible gaming, and ambitious projects like the Montreal hotel, Loto-Québec is well-positioned to meet its annual financial targets while continuing to reinvest in the community.

Source:

”Loto-Quebec reports increase in revenues and net income for Q2”, cdcgaming.com, December 05, 2024.