Loto-Québec reported that its casino and gaming hall revenue is on course for a ‘record year’ while on a border level the provincial lottery continues to make revenue gains.
The company reported revenue of CA$734.4m for the third quarter of the 2024/25 fiscal year, ranging from 1 October to 30 December. This marked a 5% increase from $689.9m the year prior, driving an increase in net income of 6.3% to $360.5m.
Year-to-date, Lotto Québec is enjoying successive growth, with Q1-Q3 of the fiscal year seeing total revenue of $734.4m, an increase of 6% from $210bn during the same time period during the 2023/24 fiscal year.
Net income stands at $1.1bn, up 5.2%, with Loto-Qubec asserting that ‘the corporation is on its way to reaching its net income target for the current year’.
“I want to highlight our teams’ diligent work during this third quarter,” said Jean-François Bergeron, Lotto-Québec CEO. “Thanks to their dedication and determination, Loto-Québec remains on track, with very good financial results that surpass last year’s.
“This strong performance moves us closer to achieving our annual net income target. We’re very proud of it, especially since it ultimately benefits all of Québec.”
The results mark a return to positive trading for Loto-Québec, which has faced some turbulent times in recent years – most notably a workers strike in 2023 which impacted company operations until being called off by the Confédération des Syndicats Nationaux (CSN) in September that year.
Also of significance in the report is the contribution of casino and gaming hall revenue, which stood at $906.8m with the company stating that this segment is ‘still on course to a record year’. This was coupled with gaming establishment sector revenues of $645.5m.
As the sole provider of these products in Québec – unlike in Ontario which has a mulit-licence betting and gaming industry – Loto-Québec is uniquely positioned to capitalise on gaming and casinos.
This could change should the province decide to follow its counterparts in Ontario in pursuing a private, regulated market as opposed to a state-backed monopoly in the lottery. However, this is unlikely to come anytime soon, and Alberta and British Columbia are widely expected to be the next provinces to launch a multi-licence market.
“Enthusiasm for our flagship product Célébration was at an all-time high, with ticket sales exceeding last year’s and a very exciting gala that brought people together,” Bergeron continued.
“Our casinos and gaming halls also shone brightly during the holidays, treating our customers to festive and unforgettable experiences. The lineup of activities was appealing, as the increase in traffic shows.”