Loto-Québec releases its first-half fiscal 2023-2024 financial results, affirming that it will reach its goals. From April 1 to September 25, 2023, the Crown agency earned CA$1.412 billion and netted CA$736.8 million.
The Crown Agency (State-run agency) regulates and provides the Province of La Belle’s lotteries and games, which were established in 1969. Espacejeux, the province’s sole approved online gambling platform, offers video lotteries and online gambling in addition to lottery games, such as draw games, casinos, gaming halls, scratch cards, and bingo venues.
From the latest Canadian casino news, Between April 2023 and September 25, 2023, the Crown lottery business made a total of CA$452.8 million. There were fewer Lotto Max jackpots and Maxmillions worth CA$50M+ available during this time period. At the start of the fiscal year, online lottery revenue accounted for 12.5% of the sector’s total earnings. As a result, the gaming and casino segment made around CA$527.2 million in earnings.
Several services may have been disrupted by labor issues throughout the summer, which may have affected the figures. Nonetheless, an agreement was made between the employer and the workforce in late September. Furthermore, iGaming income accounted for 26.3% of total earnings in the sector.
The gaming establishment, on the other hand, generated CA$441.2 million in revenue, according to the most recent report released by the Crown agency. However, the industry has suffered tremendously in recent years. Despite this, businesses from all across the region are nevertheless drawn to its video lottery consoles. The regulatory authority stressed that the development of this type of product will take place within an ethical framework.
Since the beginning of the fiscal year, the Crown has also given out 48 prizes worth at least CA$1 million, 22 of which were given out in Q2. In the second quarter, a total of CA$372.8 million was distributed through the lottery, network bingo, and Kinzo winner. In addition, on July 26th, a brand-new Kinzo hall with comfortable seating for up to sixty participants was inaugurated in Mirable.
Loto-Québec’s plans to build a small gaming parlour at the ancient Taverne 1909 in downtown Montreal, close to the Bell Centre, have recently sparked alarm. Montreal Public Health, which was also opposed to the project, produced a 40-page analysis describing the potential hazards linked with the development of a casino in the region.
In response to the public criticism, the Crown agency declared that it will withdraw its mini-casino proposal in late September 2023. While recognizing that it understands why the DRSP considers certain sections of the gaming hall’s location to be hazardous, the gambling regulator noted that it respects the public health organization’s perspective and still believes the project was a missed opportunity.
