Loto-Quebec Record A 16% Rise In Profits

Publish: 08.03.2018

Loto-Quebec has revealed it has recorded a rise in profits in the third quarter of fiscal 2017-18.

According to the numbers revealed by the provincial crown corporation, the profits of $340.5 million raked during the three-month period from Spetember 26 to December 25 represent an increase of 16% over the corresponding period of the previous fiscal year.

Numbers Went Up

The company’s revenue spiked as well, with Loto-Quebec grossing $945 million, 10% more when compared to the 2016-17 results.

Commenting on the latest figures, Loto-Quebec spokesperson Patrice Lavoie pointed out the fact this was the 11th quarter in a row to be ended with a growth.

The company can be equally satisfied with its lottery and casino operations, recording an increase in revenue of 15% and 10.6% respectively.

Since the beginning of the current fiscal year, Loto-Quebec recorded more than $1 billion in profit, while the company’s revenue climbed by 5.67% to $2.76 billion.

More Life-Changing Wins

Loto-Quebec stated that during the said quarter, players throughout the province managed to grab 17 prizes worth $1 million or more, which meant the company had created 132 new millionaires in 2017 and setting a new record.

The quarter was ended with a group of nine colleagues from Montreal splitting a $60 million jakcpot, won on December 22 as a part of a Lotto Max draw.

Founded in 1969 and headquartered in Montreal, Loto-Quebec is a crown corporation conducting and administering lottery schemes and to operating businesses which are related to casino operations in the Canadian province of Quebec.

The first-ever draw made by Loto-Quebec, called Inter Loto was held in 1970, while its first million-dollar draw was held six years later in a lottery called Super Loto.

The crown corporation employs more than 6,000 people, including around 4,500 working in its casinos.