Loto-Quebec has announced record revenues in the lottery sector as the company closes in on its pre-pandemic figures.
Publishing its financial results for the third quarter of FY2021 ending December 27, Loto-Quebec generated total revenues of $619.9m, an increase of 70.1% from the same period in the previous financial year when its operations were suspended due to the COVID-19 pandemic.
The lottery’s consolidated net income also enjoyed substantial growth, rising 120.9% to $324.7m from the third quarter of FY2020.
After the first three quarters, the revenues of its lottery sector are up $167.2m (28.7%) compared to the same period of FY2020, and $79.9m (12%) compared to FY2019, a record since Loto-Quebec’s inception.
This was achieved despite its third-quarterly revenues in the lottery sector dropping to $235m, a decline of 4.6% compared to last year. Loto-Quebec attributed this to a lower number of $50m jackpots and a higher payout to its customers, following a greater number of grand prizes being won.
However, instant games and event betting saw a jump in sales as August’s addition of single-event betting proved popular with players.
Jean-François Bergeron, President and CEO of Lotto-Quebec, commented: “Three quarters of the way through the fiscal year, we were very well positioned. If not for our activities being suspended on December 20, we would have met or exceeded our annual targets.
“Nevertheless, we remain focused on our objectives. The pandemic may have slowed us down, but it hasn’t stopped us. I’m extremely proud of the work of all our teams. Their efforts contributed greatly to our strong results.
“After three quarters, the lottery sector is reporting record revenues. We paid out 105 prizes of $1m or more since the beginning of the fiscal year, creating 89 new millionaires.
“We were pleased to welcome the winners of a $50m Lotto Max jackpot to the new premises housing our prize claim office and the Salon de jeux de Québec, in Beauport. This new location opened its doors on November 29. Customers were thrilled with the result, as were we.”
Loto-Quebec has also lent its support to the local community, including a donation of $250,000 to Quebec’s Moisson food banks.
In addition, the lottery has made the Casino du Lac-Leamy parking lot accessible as an in-car COVID-19 testing centre.
Bergeronm concluded: “We have continued our approach of solidarity with the community in various ways. For example, we donated food when our casinos closed and masks to community organisations.
“In addition, we donated $750,000 to Québec non-profit organisations through our first charity lottery game, Loto-o-suivant, and our Play to Give promotion in casinos and gaming halls.”