Quarterly reports are crucial for the development of any company, as it offers a time for evaluation of everything accomplished. Loto-Quebec recently issued its financial performance over the first six months of lottery and gaming operation for fiscal 2019-2020. When all was said and done, revenues managed to reach CA$1.415 billion, marking a 9.9-percent increase since fiscal 2015-2016’s first half.
Useful information on the Crown corporation’s performance is issued on a quarterly basis with the regular updates halfway throughout the fiscal year. The last days of October offer useful insights into the way Quebec gaming enthusiasts spend their cash on a regular basis. Loto-Quebec issued its performance over the first half of this fiscal year highlighting the positive impact of expenses optimization and increased revenue thanks to new offerings.
Loto-Quebec Touts Revenue
As it became clear by the recently issued fiscal report, since fiscal 2015-2016, Loto-Quebec has boosted net income by some 17.6 percent eventually reaching CA$736 million. This equates to about CA$110.3 million more than its performance four years ago. As for the six-month period in question, lotteries proved to be more generous than ever, especially when it comes to the ones featuring regular draws twice a week.
The six months that came to an end on September 30 saw lottery games amass some CA$449,750, marking a slight drop when compared to the first half of the previous fiscal year. The first six months of fiscal 2018-2019 saw lotteries amass some CA$467,003. Such a decline could be linked to the regular Lotto MAX and Lotto 6/49 Main prize and additional prizes seizing over H1 2019-2020.
The second quarter solely saw a total of 24 players bag CA$1-million lottery prizes, marking quite the generous period for the. When it comes to casino gaming, online gambling, and gaming halls sprinkled across the province, revenue saw an increase. The three-month period ending September 30 saw a year-on-year surge with CA$283,680, but when it comes to the six-month period ending then, there was a slight drop in casino gaming.
H1 Report Highlights Achievements
H1 2019-2020 saw some CA$512,455, whereas the same period of fiscal 2018-2019 managed to amass some CA$486,718. Casino locations across the province were especially attractive for their patrons thanks to the riveting offerings part of the Futuristik festival and the Vegas-themed events. Gaming halls, on the other hand, marked a slight revenue increase eventually reaching CA$465,935.
It should also be taken into account that video lottery terminals across the provinces have been undergoing a reconfiguration. This results in the replacement of old and outdated terminals with brand new ones projected to attract an even larger crowd. Locations boasting VLTs managed to amass some CA$979.5 million over fiscal 2018-2019.
Online performance is among the strong lines of development for Loto-Quebec and this has been true for years. The annual report reviewing fiscal 2018-2019 highlighted that Quebec players poured some CA$105.4 million into espacejeux.com. This is Loto-Quebec’s online offering allowing regulated mobile gambling for everyone interested.
