Loto-Quebec Revenue Goes Up 10th Quarter In a Row
Loto-Quebec has released the figures for the third quarter of this year, revealing the provincial crown corporation had a successful three-month period in terms of revenue.
The government corporation grossed $931.3 million during the 91-day period – which is a year-on-year increase of 1% or around $9 million more than during the corresponding period in 2016.
Numbers Going Up
The growth in tourist traffic is cited as the main driving factor behind the rise.
And while the lottery revenue recorded a decline, revenue from casinos and gaming establishments – video lottery terminals and bingo halls included – generated more money than last year.
Casinos located in Montreal and Gatineau also saw their respective revenues go up, mainly due to the celebrations of Montreal’s 375th anniversary and the 150th anniversary of Confederation.
Online Revenue Hits $50 Million
Although a 1% increase may not seem much, the result helped Loto-Quebec to report revenue increase for the tenth consecutive quarter.
When it comes to online gambling, the numbers also went up. Revenue reached $50 million during the 178-day period, recording a solid 42.3% increase when compared to the same period of last year.
The crown corporation also revealed the data regarding profits for the second quarter of this year. The province took home $353.5 million, or 3.4% more than during the corresponding period in 2016.
Founded in 1969 and headquartered in Montreal, Loto-Quebec is a crown corporation whose mandate is to operate games of chance in the province. Through its network of more than retailers, whose numbers exceed 9,800, the corporation offers a variety of lottery products, including instant lotteries, traditional paper ticket lotteries, and online or direct access lotteries.
The company employs more than 6,000 people, including nearly 4,500 in its four casinos.