Loto-Quebec’s lottery sector has posted record sales figures, helping to reduce the gap on pre-pandemic revenues and profits as it continues to recover.
Publishing its financial results for the first half of FY2021/22, the lottery reported revenues of $1.08bn for the period ending September 27, representing a 57.5% increase from the first half of the previous year.
Despite several restrictions hampering its operations, Loto-Quebec posted a consolidated net income of $584m, up by 222.3% on the year prior.
Loto-Quebec’s lottery operations experienced its best-ever half-year in terms of sales, with total revenue sitting at $513.8m, increasing by 53.3% from the same period of FY2020/21 and up 14.2% on pre-pandemic levels.
The success of the lottery sales was due to an uptick in the market share of the corporation’s Lotto Max product, with the sale of its Canada-wide product showing a similar trajectory.
As consumers adjust to post-pandemic habits, the evolution to digital lottery continued, with a 6.4% increase in online sales compared to retail stores, which were open throughout the period.
“At the halfway point of the fiscal year, our revenues have exceeded 75% of their pre-pandemic level and about 90% since July,” said Jean-François Bergeron, the President and CEO.
“Lotteries have achieved record sales. This success shows that after more than 50 years, interest in this product category remains high for draw-based lottery games as well as for instant games and sports betting,” he added.
Meanwhile, casino and gaming halls returned to normal business thought the half-year, leading to a 69.7% of revenue growth for the sector.
However, the revenue from this source remains 40.4% down on pre-pandemic levels, largely due to the ‘partial resumption of operations.’
Strategically, Loto-Quebec launched several new products throughout the period as it sought to entice players back to playing. The product launches included the Mega 360 lottery game which, according to the corporation ‘received an enthusiastic response from customers’ and signal-event sports betting, which was formally legalised in August.
Aiming to keep its customers safe whilst gambling, the lottery also began a campaign to remind its users that the games it offers are only games and that its website remained 100% legal.
Finally, the lottery helped to vaccinate people in Quebec, working closely with the Ministère de la Santé et des Services sociaux on the province’s vaccination contest, of which 4.3m people entered.
Bergeron concluded: “At the end of August, I marked my first 100 days in office. I took advantage of this period to meet employees in the field. I was able to see the depth of our offering and the great diversity of expertise found in our teams. Every day, all these people pour their talent and passion into pursuing Loto-Québec’s mission.”