Loto-Québec, the provincial lottery operator, has recently released its financial results for the fiscal year 2022-2023, showcasing a remarkable performance in various sectors.
Record-Breaking Revenues:
In the fiscal year 2022-2023, Loto-Québec achieved a historic milestone by generating CA$2.9 billion in revenue, marking a substantial 35.2% increase compared to the previous year. This significant boost in revenue can be attributed to several contributing factors.
Casino and Gaming Halls Sector:
One of the pivotal drivers of Loto-Québec’s success was the casino and gaming hall sector, which recorded a remarkable revenue of CA$1.1 billion, indicating an impressive increase of CA$444 million over the previous fiscal year. This sector’s performance highlights the enduring appeal of traditional casino offerings.
Online Casino and Gaming:
Online casino revenue also played a substantial role, increasing by CA$4.6 million to reach CA$269.9 million. This surge in online gaming emphasizes the growing importance of digital platforms in the gaming industry.
VLTs, Kinzo, and Network Bingo:
Loto-Québec’s VLTs, Kinzo, and network bingo activities generated CA$922.2 million in revenue, a substantial increase of CA$362 million over the previous fiscal year. The success of these offerings suggests a continued interest in alternative gaming experiences.
The Digital Dimension:
Loto-Québec’s expansion into the digital realm had a significant impact on its fiscal year 2022-2023 results.
Gaming Platform:
The operator’s gaming platform, which encompasses lottery, casino titles, and sports betting, generated CA$403.9 million in revenue, marking a 3.3% increase compared to the previous fiscal year. This exemplifies the shift toward online gaming platforms.
Lottery Revenues:
While traditional lottery revenues amounted to CA$996.1 million, showing a marginal decrease of 1.1% compared to the previous year, online lottery sales revenues experienced a positive trend. Online lottery sales reached CA$124.2 million, reflecting a 5.4% increase and accounting for 12.5% of total lottery revenues. This trend underscores the evolving consumer preferences in the lottery sector.
Social Responsibility:
Loto-Québec demonstrated a strong commitment to social responsibility in the fiscal year 2022-2023 by investing CA$33.6 million in initiatives aimed at preventing problem gambling. This investment aligns with the operator’s commitment to ensuring the well-being of its customers and the broader community.
Impact on Québec:
The remarkable performance of Loto-Québec has a significant impact on the province of Québec. The CA$1.6 billion dividend payout to the Government of Québec not only contributes to the province’s financial stability but also supports various public initiatives and services.
CEO’s Perspective:
Jean-François Bergeron, the President and CEO of Loto-Québec, expressed his gratitude towards the dedicated employees and the remarkable results achieved. He emphasized that the operator’s success translates into direct benefits for the people and province of Québec.
Loto-Québec’s fiscal year 2022-2023 results showcase a resounding success story driven by record-breaking revenues in various sectors, a strong digital presence, a commitment to social responsibility, and a positive impact on the province of Québec. The operator’s ability to adapt to changing consumer preferences while upholding its social responsibility commitments is a testament to its resilience and strategic vision.