First Quarter of 2019 – 2020 – Loto-Québec’s results are in line with budget forecasts
Reading Time: 1 minute
At the end of the first quarter of the 2019–2020 fiscal year, Loto-Québec is reporting total revenues of $656.1M and a consolidated net income of $337.4M.
QUOTE
“Since 2015–2016, our total first-quarter revenues (for the same number of days) have increased by $70.0M (+11.9%), while total expenses over the same period have risen by just 1.9%. As for our consolidated net income, it saw a $63.9M (+23.4%) increase, to which all sectors contributed,” says President and CEO Lynne Roiter.
HIGHLIGHTS
- Lotteries
The lottery sector saw a decrease in revenues (-11.6%) due in part to fewer Maxmillions being offered through Lotto Max (32, compared to 199 in the first quarter of 2018–2019), and a sales decline of special-edition tickets, because the 100$ ULTIME ticket was not brought back this year. On the other hand, the Corporation paid out a $65Mjackpot—the biggest in its history. - Casinos
The casino sector reported stable revenues compared to the same quarter last year. For the same number of days, revenues are up $2.1M (+1.0%). - Gaming establishments
The bar network saw a decline in revenues (-1.2%), while revenues at gaming halls (+4.1%), bingo halls (+16.5%) and Kinzo halls (+13.4%) rose. Electronic bingo was a contributing factor in higher bingo hall revenues. - Online gaming
Revenues from the online gaming website—lottery and casino games combined—grew by $5.6M (+23.8%).
The quarterly report is available on Loto-Québec’s website.
SOURCE Loto-Québec
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: First Quarter of 2019 – 2020 – Loto-Québec’s results are in line with budget forecasts…
The post First Quarter of 2019 – 2020 – Loto-Québec’s results are in line with budget forecasts appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.
Source: Eastern European Gaming
