Loto-Quebec is always ready to give its players top-notch gaming experience and this is visible by the constant pursuit of something bigger and better to have up for grabs. This week saw the official issuing of its financial performance over the fiscal year 2018-2019 showcasing a substantial surge in the total revenue of the Crown corporation.
It reached CA$2.827 billion and marked a 3.1-percent increase in comparison to the financial performance during the previous year. The Quebec corporation overseeing gaming offerings across the province is working on elevating the player experience with new offerings on a regular basis.
Over the past fiscal year, it has managed to surpass its previously issued performance, a positive surge boosted by various launches and initiatives. The performance over the past fiscal year marked a 3.1-percent surge when compared to the one in 2017-2018. Back then, the total revenue amassed reached CA$84.9 million.
Corporation Touts Performance
When it comes to the net income of the Crown corporation, there was an even bigger jump when compared to the performance during the previous fiscal period. This year brought some CA$1.408 billion in net income, once again marking a 5.4-percent surge when compared to fiscal 2017-2018.
During that period of time, the net income managed to swell to CA$72.7 million Another crucial point of the revenue report was the amount of cash the lottery has paid out in the forms of jackpots and other prizes. Over the past 12 months, this figure reached CA$1.160 billion. This is one of the more significant year-on-year surges showing just how generous the lottery corporation is.
It should be taken into account that the lottery revenues generated saw a surge also because Lotto MAX has seen record performance and ticket purchases. There are now two weekly draws for everyone interested in bagging hefty cash prize. As a result of this, the main prize jackpot has continued climbing over the past few months, only to be claimed this week by a lottery ticket sold in Quebec. Sales surpassed CA$52.3 million, or a 30.6-percent jump year-on-year.
Online Gaming on the Rise
The Crown corporation is also known for Quebec’s brick-and-mortar casino operation in venues marking a quarter-century performance this year. Casino de Montreal and Casino de Charlevoix celebrate 25 years of gambling operation this year and various events and promotions have managed to attract more than 10 million casino patrons over the past fiscal year. A revenue increase was also visible at Casino de Montreal, highlighting the year as a successful one.
The revenue generated by them reached CA$917.9 million, or 1.2 percent more than the previous fiscal year. Video lottery terminals also played the main role in the financial performance of the lottery corporation. There was a drop in the gaming establishments’ revenue observed, even though it was a 0.2-percent one. Locations boasting VLTs managed to amass some CA$979.5 million over fiscal 2018-2019. This was linked to the work done on said machines located in bars across the province.
The biggest surge was undoubtedly the online gaming one that witnessed a 23.2-percent jump over the past twelve months of operation. This meant that Quebec players poured some CA$105.4 million into espacejeux.com, Loto-Quebec’s online offering allowing regulated mobile gambling for everyone interested. Lynne Roiter, President and CEO of Loto-Québec, stated that for the past five years the corporation has witnessed a positive revenue surge which is projected to continue.
