Halfway through fiscal 2022-2023 - Record results for Loto-Québec

MONTRÉAL, Dec. 14, 2022 /CNW Telbec/ - Loto-Québec posted record results with total revenues of $1.466B and consolidated net income of $805.3M at the end of the first half of fiscal 2022?2023. These represent increases of $382.9M (+35.4%) and $221.3M (37.9%), respectively, over the same period last year.

It bears pointing out that several activities had been put on hold from April 1 to mid-June 2021. Increases over the first half of the pre-pandemic fiscal year (2019?2020) amount to 3.5% for revenues and 9.4% for net income. Sound management by all sectors of the organization resulted in an excellent ratio of total expenses to revenues of 27.9%?compared to 31.0% over the same period in the pre-pandemic year.

QUOTES FROM THE PRESIDENT AND CEO

"Halfway through the fiscal year, we're on track to not only meet but surpass our budget target. All our teams continued their remarkable work leading us to these record results of which I'm very proud," said Jean-François Bergeron.

"Despite our enthusiasm, we remain cautious given the unstable economic context. We're counting on exciting projects?especially in terms of repositioning our brand?to keep us heading toward success."

"We're proud to support around fifty festivals across the province, and we're thrilled that so many Quebecers were able to enjoy them this summer. We encourage events whose corporate social responsibility stands out and help them improve in this regard."

RESULTS BY SECTOR
For the period from April 1 to September 26, 2022

Lottery

• Lottery revenues amounted to $468.3M, a $29.0M (-5.8%) drop over the same period in 2021?2022.
  
  
• This result can be explained by lower Lotto 6/49 sales and, in particular, the Lotto Max decline, which was expected, given this lottery's record jackpots at the beginning of last year, including two of $140M.
  
  
• Online lottery sales revenues represented 12.7% of the sector's total revenues, compared to 3.4% during the first half of the pre-pandemic fiscal year.

Casinos and gaming halls

• Casino and gaming hall revenues stood at $551.4M, a $244.5M (+79.7%) increase over the same period in 2021?2022 and a $39.0M (+7.6%) increase over the first half of the pre-pandemic fiscal year.
  
  
• This hike can be explained by the closure of gaming locations from April 1 to mid-June 2021, before progressively reopening, whereas there were no closures this year. It can also be explained by the continuous improvement of the entertainment offer, which seeks to provide clients with a one-of-a-kind experience, and by the promotional campaigns that highlighted the features of Québec casinos.
  
  
• Revenues from online casino games represented 23.8% of the sector's total revenues, compared to 8.9% during the first half of the pre-pandemic fiscal year?a clear sign that the site is increasingly popular.

Gaming establishments

• Gaming establishment revenues amounted to $455.9M, a $174.4M (+61.9%) increase over the same period in 2021?2022.
  
  
• This increase can be explained by the closure of many locations from April 1 to mid-June 2021, whereas this year's activities were uninterrupted.
  
  
• Revenues from video lottery terminals remained similar to their pre-pandemic levels.

QUARTERLY HIGHLIGHTS AND CSR CONTRIBUTIONS
For the period from June 28 to September 26, 2022

• During the quarter, Loto-Québec paid out 23 prizes of $1M or more, for a total of 54 since the beginning of the fiscal year.
  
  
• Lotto 6/49 got a makeover. The new Lotto 6/49 has been available to Quebecers since September 21 and features the Classic Jackpot, which is set at $5M, and the Gold Ball Jackpot, which starts at $10M and can increase to just over $60M.
  
  
• The second edition of the Loto-o-suivant charity lottery was released at the end of September. Local organizations received a total of $500,000 in donations thanks to this scratch ticket, from which Loto-Québec does not retain any profit.
  
  
• La Poule aux oeufs d'or returned to television on August 28 for a new season, celebrating its 30th anniversary.
  
  
• Self-serve terminals were installed at the head office to purchase terminal-based lottery products. An attendant is on hand to ensure that all buyers are 18 years or older. This project is used to study the possibility of selling certain lottery products through self-serve terminals directly at retailer locations.
  
  
• Thanks to innovative technology, lotoquebec.com players can play a real slot machine live from the Casino de Montréal, since June 29. They can thus experience the casino as if they were there.
  
  
• Two new Kinzo halls opened their doors: one in Longueuil and one in Sherbrooke.
  
  
• The Zone, a multi-game area that features a host and encourages social interaction, is now available at the Salon de jeux de Trois-Rivières.
  
  
• Many of the 52 Rendez-vous Loto-Québec events took place over the summer. Loto-Québec's sponsorship policy now includes eco-conditions, or corporate social responsibility criteria. These conditions pertain to waste management and respect for natural environments, among others.
  
  
• In casinos and gaming halls, various playful initiatives were put in place at Bien joué! areas to inform clients on responsible gambling and raise their awareness of the topic. They were incorporated into ongoing themed activities.
  
  
• At Montreal Comiccon, the corporation hosted the Loto-Québec Indie Games Zone where video game fans could explore promising local creations.

The quarterly report [PDF ? 8.4 MB, in French only] is available on Loto-Québec's website.

SOURCE Loto-Québec