Industry Reports

Loto-Québec Pulls Back Curtain on Six-Month Financial Results

Loto-Québec is ready to unveil more information on its daily gambling operation over the first two quarters of the fiscal 2020/2021 year. They covered operation between April 1 and September 28, 2020, which was largely impacted by the unprecedented situation around the globe. Total revenue amounted to some CA$687.4 million during that time.

Every gaming leader is interested in offering full transparency when it comes to its gaming revenue and the profit amassed, as this helps the communities and guarantees that gambling supports people in various ways. Quebec’s gaming corporation is here to once again shed some light on its daily operation during these unprecedented times. It issued the financial results spanning over six months.

Two Fiscal Quarters

These months are particularly interesting, as it could be recalled that the Crown corporation was among the proactive ones on a national scale. Loto-Québec was the first gaming leader to close its brick-and-mortar casinos and gambling halls back in March. Other Crown corporations followed its example soon after that. In this sense, the first quarter of this fiscal year saw no in-person gambling in Quebec.

In the last days of June, a gradual reopening process commenced at the casino locations and other bingo and Kinzo locations across the province. All safety measures needed for their reopening were taken into account and implemented ensuring players that they can gamble safely and in an organized manner. Over the three months that came to an end on September 28, the crown corporation amassed some CA$230,573 from lottery gaming, marking a slight drop year on year.

When it comes to the six months that ended then, lotteries amassed some CA$335,255 falling short of the 2019 CA$449,750 results. The six months were also rough on casino gaming, as it witnessed only CA$179,914. In comparison, the first and the second quarter of the 2019/2020 fiscal year saw brick-and-mortar venues generate some CA$512,455 in gaming revenue.

Casino Closures

Gambling halls also witnessed revenue of CA$174,019 over the past six months, but there was a significant drop year-on-year. The six months which came to an end on September 30, 2019, witnessed some CA$465,935. Net income generated by the gambling leader amounted to some CA$181.2 million. Over the spring months, online gambling at remained the sole legal gambling offering in the province.

The Crown corporation has worked on the online gambling platform, enhancing it with various new games and constantly introducing new offerings to the table. This is especially important, as it recently closed once again its brick-and-mortar gambling venue and casinos. Back in October, the Crown corporation announced the temporary closure of Casino de Charlevoix, as well as video lottery terminals in the Montérégie, Centre-du-Québec, and Capitale-Nationale regions.

The closure came into effect at 12:01 a.m. on October 16. Casino du Lac-Leamy, Salon de Jeux de Trois-Rivières, and Hilton Lac-Leamy Hotel also had to close for business until further notice. Upcoming days are expected to see more information on in-person gambling in Quebec.