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Loto-Québec reported total revenues of $1.415B for the first half of the 2019–2020 fiscal year, while consolidated net income reached $736.0M.
“Since 2015–2016, our total revenues for the first six months of the year (for the same number of days) have increased by $127.2M (+9.9%). During the same period, tightly managed expenses have helped boost our consolidated net income by $110.3M (+17.6%). All our sectors contributed to this increase,” said Lynne Roiter, President and CEO.
- Revenues from this sector decreased compared to the same period in 2018–2019. The decline was expected, as an exceptionally high number of Lotto Max Maxmillions was offered last year.
- A total of 24 prizes of $1M or more were won in Québec during the second quarter.
- This sector, which includes Loto-Québec’s brick-and-mortar casinos, online casino and gaming halls, saw its revenues grow.
- Two themed event series attracted visitors to the casinos during the second quarter: Futuristik and Vegas.
- The video lottery terminal (VLT) network reconfiguration plan will produce its full effects this year. Consequently, revenues from VLTs located in areas targeted by the removal of terminals declined. Revenues from bingo and Kinzo halls continue to grow.
Note: There were six more days in the first half of this year compared to the same period in 2018–2019.
The quarterly report is available on Loto-Québec’s website.
Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Second Quarter of 2019-2020 – Loto-Québec on track with its budget forecasts