Loto-Québec’s Online Casino is Growing Rapidly
Did you know there are over 1,000 commercial casinos in North America and they generate approximately US$29 billion in revenue each year. These include casino gaming establishments situated in the United States, Canada and Mexico and these numbers do not include the online gambling industry which is currently being legalized in state by state across the USA.
Recent reports confirm online sports betting in both Canada and the US is gaining a lot of new customers. Thirty-eight million American adults – 15 percent of the U.S. adult population – are planning to bet on National Football League (NFL) games this season, according to a new survey by the American Gaming Association (AGA).
The rapid expansion of legal sports betting has provided increased opportunity for millions of Americans to bet safely with a licensed, regulated sportsbook. This year, seven million Americans say they will bet legally at a casino’s sportsbook, that’s an increase of more than 15 percent compared to 2018. Tens of millions of others will place bets with friends, participate in pools or squares contests or place their bets online.
Latest Figures Make Interesting Reading
In Canada, a recently released report shows that at the end of the first quarter of the 2019–2020 fiscal year, Loto-Québec enjoyed total revenues of Ca$656 million and had a consolidated net income of $337.4 million. Not bad for three months work!
Breaking down the figures makes for interesting reading. Loto-Québec’s primary income source, lotteries, had decreased revenues of over 11 percent (compared to the corresponding period in 2018). However, income from gaming halls was up four percent, Kinzo halls was up by 13 percent, bingo halls were also up by an even more impressive 16 percent.
But the biggest winner was revenues from their online gaming website – featuring lottery and casino games combined – its growth was an impressive 23.8 percent. However, detractors will point out that, at $5.6m in total revenue Loto-Québec’s lottery and casino site is still just a small cog amongst a big machine.
Progressive Slots in the Pipeline
That small cog could get a whole lot bigger and spin a lot faster on the back of this impressive growth rate however and theirs could be another website to soon feature some of the major progressive slot games which Canadians clearly love. At the moment their offering amounts to a splattering of virtual racing games, a few progressive slots, a handful of table games and a live casino.
For now there are far better places to play online casinos in Canada but with their huge financial resources Loto-Québec’s online offering is unlikely to be up with some of the market leaders such as Casumo and Royal Vegas very quickly.