Fact checked by Wilbur Thompson.
Loto-Québec announced this week that it had achieved its best quarterly performance since 2015. The regulatory authority overseeing Quebec’s casinos has declared that Loto-Québec, for the third quarter of 2022-23, has generated overall revenues of $2.225 billion and a combined net profit of $1.204 billion. This represents a growth of $521.9 million (+30.7%) and $295.8 million (+32.6%) respectively, compared to the corresponding time frame in the previous year. During that same period, the organization’s expenses-to-net-income ratio decreased from 30.9% to 28.2%.
It is notable that these figures are the best results since the Tobacco Control Act became law eight years ago, which had a significant impact on traffic at gaming establishments. Loto-Québec’s president and CEO, Jean-Francois Bergeron, expressed his pride and gratitude towards his team for their sustained efforts that led to these exceptional results, stating that they will be able to pay a higher dividend than expected to the government, benefiting all Quebecers.
Regarding revenue breakdown by sector, lottery revenues totalled $742.2 million, representing a $2.6 million (+0.4%) increase from the same period in 2021-22, while online lottery sales revenue increased by nearly 10% from the same period in 2019-20. Casino and gaming hall revenues also increased by $313.9 million (+60.9%) and $69 million (+9.1%) from the same windows in 2021-22 and 2019-20, respectively, with online casino revenues accounting for 24.3% of the sector’s total revenues. In comparison to the corresponding period in 2021-22, there was a rise of $214.5 million (+45.4%) in the revenues of gaming establishments.
During the quarter, Loto-Québec awarded a total of $397.1 million to lottery, network bingo, and Kinzo winners. This brings the total amount of money awarded to $1.103 billion since April 1. In addition, the quarter produced 32 new millionaires, bringing the total number of millionaires created during this fiscal year to 69. Two new sports books were opened at the Casino du Lac-Leamy and Salon de jeux de Trois-Rivieres, while Loto-Québec also signed a new agreement with major event organizer Gestev to handle programming at the Theatre du Casino due Lac-Leamy.
But with great profits comes great corporate social responsibility. Loto-Québec held the third rendition of its campaign inviting players to better manage their playing limits, with a focus on encouraging players to voluntarily set time and loss limits. Loto-Québec allocated more than $1 million to charitable organizations in La Belle Province through its Giving Back is a Win-Win program. Additionally, three establishments renewed their BOMA BEST certification, which acknowledges outstanding performance in energy and environmental management, as well as commercial real estate.