Digital gaming fueled Loto-Quebec’s success – iGB
Digital gaming income growth aided the Canadian provincial lottery operator Loto-Quebec in announcing better financial outcomes for the 2017-18 fiscal year.
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Digital gaming fueled Loto-Quebec’s success
Digital gaming income growth aided the Canadian provincial lottery operator Loto-Quebec in announcing better financial outcomes for the 2017-18 fiscal year.
Loto-Quebec’s net profit climbed by 8.5% to C$1.335 billion (GBP 764 million/EUR 877 million/USD 1.02 billion), while revenue increased by 3.7%, with the operator reporting improvements across all key metrics.
However, digital gaming stood out, despite being the operator’s smallest division, with sales skyrocketing 37.5% to C$118 million through the EspaceJeux.com platform, continuing the momentum from the previous year when the division expanded by 29.7%.
Digital casino revenue expanded by 40.6% to C$64.3 million, while digital lottery sales rose by 34% to C$53.7 million.
These results seem to validate Loto-Quebec’s decision earlier this year to consolidate all its digital offerings under one platform, including bingo, casino, lottery, poker, and sports betting.
Lottery operations remained the operator’s primary revenue source, with sales reaching C$1.881 billion, up 2.9%. Loto-Quebec’s four casinos generated total sales of C$906.9 million, up 8%.
An expansion of 1%.
Canadian Finance Minister Carlos Leitao established a goal of $1.31 billion CAD, and dividend contributions to public funds increased by 8.7% to $1.31 billion CAD, surpassing the objective by $169 million CAD.
Connected news: Loto-Quebec introduces a fresh online lottery service
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