At the start of October 2022, the Atlantic Lottery Corporation published its annual report for the fiscal 2021-2022 year. Its financial records confirm that for the previous fiscal year, the Crown corporation returned over CA$438 million to the four Atlantic provinces. ALCās President and CEO described the past year as a real success and thanked everyone involved.
The ALC is a state-run agency that conducts regulated casino and lottery offerings for the four Atlantic provinces. It is publicly owned by the four regions and through its operations, it returns 100% of its gaming profits to the four provincial jurisdictions. Since it was founded in 1976, the Crown corporation has brought in more than CA$10 billion to the local coffers.
Returning a Record Profit
President and CEO of the ALC, Mr. Daigle, said that the last financial year was a real success story. He thanked the agencyās devoted employees and the players, retailers, and shareholders for their support. He said the company keeps trying to evolve into a modern digital-focused entity, and they are now excited to see the results of the new approach paid off in a record return fiscal year.
For 2021-2022, the ALC managed to return CA$227.9 million to the four provinces from its retail and online lottery verticals and CA$210.2 million from its Destination line of business. Nova Scotia got CA$140.2 million of the proceeds, while New Brunswick received the second most with CA$139.3, while CA$135.1 million went to Newfoundland and Labrador and CA$23.5 million to Prince Edward Island.
Some more important takes from its 2021-2022 financial reports are the all-time high of Lotto Max sales across the four provinces. This was a 43% increase over the previous record for PROā¢LINE gross sales; and a profit of $2.8 million at our Red Shores locations. Thus, marking the most profitable fiscal year for the racetrack and casino brand in its history.
Meanwhile, the iLottery tally of net profit rose to 18% in 2021-2022, which is an improvement over the 16% from the prior FY. However, Mr. Daigle elaborated that despite the success of the business vertical, the Crown corporation is worried about the existence of unlawful gambling websites in the region, which are not allowed to operate or advertise products in the Atlantic provinces.
Enhancing Offerings
But that is not all recent news from the ALC, as this week, it announced that it has inked a partnership agreement with Instant Win Gaming. This will allow the latter to recreate some of its e-Instant titles as retail instant tickets and pull-tabs for the ALC. The first title which will be adapted via this lucrative collaboration will be Super Cash Buster.
Back in April this year, the Crown agency also struck a new agreement with International Game Technology. Via this partnership, IGTās subsidiary IGT Canada Solutions ULC has been permitted to deploy 1,375 CrystalDualĀ® 27 cabinets to the ALC. The cabinets feature top-performing titles such as The Wild Lifeā¢, Big City 5āsā¢, The Big Easyā¢, and Royal Spins Deluxeā¢ and all of them will be supplied by the end of 2022.
Source: āAtlantic Lottery returns $438.1 million to Atlantic Canadian provinces in 2021-22ā ALC, October 4, 2022
