Created in 1969, the state-owned Loto-Québec corporation ‘s mission is to operate games in the beautiful Canadian province in an orderly and measured manner.
It therefore offers various types of lotteries, sports betting, and land-based casinos, among other things. Logically, this group has been heavily impacted by the international Covid-19 coronavirus pandemic.
As this has calmed down for some time, it has just published sharply rising results that even manage to exceed the levels recorded before the global health crisis.
A sharp increase in profits and sales for Loto-Québec
The Loto-Québec group released its results for the first quarter of the 2022-2023 fiscal year on Friday, September 23, 2022. These results exceeded expectations.
In fact, the profits generated reached 446.5 million Canadian dollars (approximately 339.3 million euros), which represents an impressive increase of 128.1% compared to the same period of the previous year.
It should be noted, however, that during this period, several of its activities were temporarily suspended due to the international health crisis. This is why profits only reached 195.7 million Canadian dollars (148.71 million euros).
Between April and June 2022, the Loto-Québec group generated sales of 744.3 million Canadian dollars (565.59 million euros), an increase of 85.5% compared to the previous year.
>>> Also read: » Loto-Québec’s excellent results «
An increase compared to pre-global health crisis levels
These various results were extremely well received by the President and CEO of Loto Québec (Jean-François Bergeron). He expressed his delight that this state-owned company had managed to surpass its results from before the Covid-19 pandemic.
In the first quarter of the 2019-2020 fiscal year, the group recorded sales of CAD 656.1 million (€498.57 million) and a profit of CAD 337.4 million (€256.39 million). As a result, the recently published results represent an increase of 13.4% and 32.4% respectively compared to this period.
Details of Loto-Québec’s various activities
In the first half of the 2022-2023 fiscal year, the lottery sector posted sales of CAD 256.6 million (€194.99 million), including CAD 32 million generated online. This represents a total decline of CAD 19.2 million.
Loto-Québec’s Espace Jeux portal as a whole generated online sales of 98.3 million Canadian dollars (74.7 million euros), which represents a decrease of 6.5% compared to the same period last year.
On the other hand, sales at land-based gaming establishments increased sharply by 242% to reach no less than 263.4 million Canadian dollars (200.16 million euros). To put these results into perspective, it should be remembered that Quebec’s gaming complexes were forced to remain closed between April and May 2021, only to gradually reopen during the following June.
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