Loto-Québec is in the process of introducing some changes to the way it discloses information regarding the financial performance of its gaming venues, online gaming, as well as its lottery products. The Crown corporation has decided to present an overall gaming revenue of all brick-and-mortar casinos in Quebec, instead of issuing info in a detailed manner. Such a move is projected to result in more simplified revenue reports.
At the end of every quarter, the Crown corporation overseeing Quebec’s gaming field has the chance to issue more information on the gaming performance that took place. The three-month period is able to reveal more about the direction of development and whether or not casinos are on the right path to reaching their set goals.
Changes Introduced
From here on out, Loto-Québec would refrain from disclosing the particular gross gaming revenue of each casino location and gaming venue it oversees within the borders of the province. This change would happen through the internal policy review that has been in progress ever since the summer of 2019. The ultimate goal for the Crown corporation would be more streamlined information issuing.
The financial reports issued at the end of every fiscal quarter are about to introduce gross gambling revenue combining information coming from all four casino locations and the gambling venues there are in operation. It should also be taken into account that the policy review made it possible for Loto-Québec to come to the conclusion that casinos and gaming venues have to be perceived as a unified entity.
Their management is currently following this very model and it only makes sense for the Crown corporation to issue information in a unified manner. Concerns have been raised by this new approach to figures issuing, as Quebec locals fail to grasp the true figure each casino venue is able to bag on a day-to-day basis. There might be another reason for this particular change.
Casino Revenue Remains Unspecified
It could be recalled that over fiscal 2018-2019, the fiscal performance issued was able to indicate a noticeable slump in the gaming revenue of Casino Charlevoix and Casino Lac-Leamy. The two well-rounded casino venues experienced a slower period while in the meantime the gaming venue in Québec managed to welcome a bigger crowd of patrons. With its revenue reports, the Crown corporation aimed to paint an accurate picture of the gaming field.
Loto-Québec still provides the mandatory information the government insists on receiving even though the reports are not as transparent as the industry would like them to be. The casino venues are able to support their host communities in various ways, one of which is the regular allocations to the city coffers they make. In this sense, bringing back the original transparency might make more sense for a better understanding of the situation.
The Crown corporation recently issued more information on its third-quarter performance for fiscal 2019-2020. It has managed to amass some CA$685.8 million over the span of the said three months of gaming operation in Quebec. When compared to the performance over Q3 2018, there has been an 11.1-percent drop. However, the gross gambling revenue was not broken down for each casino venue.
