This week, Loto-Québec released its official financial performance numbers for the first half of the 2022-2023 fiscal year. For the six-month period, the Crown agency reported total revenues of CA$1.466 billion and a consolidated net income of CA$805.3 million. These are a CA$382.9 million and CA$221.3 million, respectively, increase over last year’s same results.
The comparison to 2021-2022 is not exactly a fair one, as some of the Crown corporation’s activities were suspended from April 1 to the middle of June 2021. This was due to the casino closures caused by the unprecedented situation of March 2020. For the first half, the organization reported a ratio of total expenses to revenue of 27.9%, compared to 31% from 2019-2020.
Results by Sector
In its report, the Crown informs that from lottery, revenue hit CA$468.3 million, which is a 5.8% drop from the same period from last fiscal year. Meanwhile, online lottery sales revenue accounted for 12.7% of the lottery sector. It should be noted that this ratio was significantly less during the first half of the pre-unprecedented situation fiscal year at 3.4%.
Casinos and gaming halls contributed to CA$551.4 million of the revenue, which is a massive CA$244.5 million increase over 2021-22 and a CA$39 million over 2019-20. Online casino revenue amounted to 23.8% of the gambling’s total revenue. Meanwhile, it was 8.9% in the first half of the pre-unprecedented situation fiscal year. Meaning that online casino offerings gain momentum in the province.
Then, revenue from gaming establishments reached CA$455.9 million or a CA$174.4 million increase from the same period of the past FY. The increase is explained by the suspension of many locations from April 1 to June 2021, whereas this year their operations were not interrupted. Revenue from video lottery terminals remained similar to pre-unprecedented situation records.
More Highlights
For the period June 28 to September 26, 2022, the Crown corporation gave out 23 lottery prizes of CA$1 million or more. Thus, bringing the total amount to 54 since the start of the FY. During that time, the agency also introduced the new version of Lotto 6/49, which offers a Classic Jackpot at CA$5 million and a Gold Ball Jackpot which starts at CA$10 million and can reach over CA$60 million.
The Crown also reintroduced Loto-o-suivant charity lottery which arrived at the end of September 2022. Via this scratch-ticket initiative, local non-profits and charities received a total of CA$500,000 in donations. Also, La Poule aux œufs d’or returned to TV screens on August 28 for a new season and celebrated its 30th anniversary.
In the first half of its financial year, the organization also launched two new Kinzo halls, one in Sherbrooke and one in Longueuil. Also, the Zone, which is a multi-game area that includes a host and encourages social interaction, has debuted at the Salon de Jeux de Trois-Rivières. The full report on the Crown’s highlights can be found on its official website.
Source: “Halfway through fiscal 2022-2023 – Record results for Loto-Québec” Yahoo, December 14, 2022
