Atlantic Lottery CEO Says the Company Needs to Be More Competitive
President and Chief Executive Officer of Atlantic Lottery Corporation (ALC), Brent Scrimshaw (pictured below) has said recently the company needs to further change in order to adapt to the current market situation and be more competitive, especially with internationally-licensed operators.
Such a reaction came as a response to a drop in profit during the twelve months to the end of March.
Total profit recorded a slight drop of 0.66% or C$2.8 million less money when compared to the previous fiscal period, although the total profit of C$419.2 million was almost C$2 million above the initial estimates.
Numbers Are Looking OK
Net revenue also recorded a decrease, dropping to C$756.1 million during the same period.
ALC is offering its services to customers in four Canadian provinces: New Brunswick, Newfoundland and Labrador, Nova Scotia and Prince Edward Island. The company recorded growth in all regions except Newfoundland and Labrador, where it earned C$4.5 million less than planned. This result can be somewhat surprising, especially since punters in this province were the biggest spenders on lottery games.
ALC can be pleased when it comes to its digital vertical since the company proudly reported an increase in the number of customers playing games, which rose by 15% to 72,000, while the total sales for the fiscal 2017-2018 reached C$16 million.
One of the biggest highlights of the latest fiscal period was an agreement with IWG and Scientific Games, under whose provisions the company relaunched its entire online instant win offer. The ultimate goal of this move was to draw new customers.
Scientific Games’ role was to supply a new omnichannel gaming system, while IWG was responsible for the integration process, which was conducted using its Progressive Play remote server.
What Needs to Be Done?
Scrimshaw stated the company needs to focus on becoming more involved in the market and compete far more effectively with other operators.
He said players had so many more options, and pointed out that while having a safe and regulated gaming industry was extremely important and at the heart of who the industry was, everyone still needed to ensure that the games, and the means by which they were delivered them, were competitive.
Scrimshaw stated the company needed to be quicker to act and react because the market was evolving and technology, apps, and regulatory environment needed to evolve at the same pace to ensure the company remained in the game.
He explained he was well aware Atlantic Canadians were going to look to gaming for entertainment and by expanding the ALC’s offering they could choose a safe and regulated provider, which ensured revenue and profits remained in the region.
ALC is a Canadian organization that operates lottery games in Atlantic Canada, owned jointly by the four Atlantic provincial governments – New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador. The company is headquartered in Moncton, New Brunswick.
ALC was founded in 1976, and since then has awarded more than $5.5 billion in prizes and paid out $5.9 billion in profits to its four shareholders.