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ALC Unveils Riveting 2020-2021 Profit Figures

Atlantic Lottery Corporation recently issued its annual report covering the financial 2020-2021 year. Even though it was one of the most challenging financial years for in-person gambling across Canada and on a global scale, the Crown corporation celebrates excellent performance. It was confirmed that the corporation is on track for record profits during this financial year.

The four Atlantic Canada provinces rely on this corporation when it comes to their gaming offerings, online gambling, and lottery games. More products were introduced over the past fiscal year and individuals took their time to explore them. Many people made their first steps in the online gaming world and found out that lottery gaming is the thing for them.

Annual Report

These are some of the reasons why the recently issued annual report showcased great performance and figures. For New Brunswick, the budget was CA$137,635,495, whereas the actual profit reached CA$118,596,537. In Newfoundland and Labrador, the profit reached CA$94,344,157, while the budget was set at CA$128,378,071. When it comes to Nova Scotia, the 2021 budget was CA$139,498,200, whereas the profit reached CA$118,897,046.

Prince Edward Island showcased close figures and nearly no difference between budget and profit. The former was CA$19,833,727, while the latter was CA$14,706,039. Some 93 percent of every lottery dollar managed to go back to the Atlantic Canadian provinces. Nearly half of it goes to winners, while about a third equates to the profit allocated to the provinces. Breaking down the lottery dollar revealed that it also benefits operations, salaries and benefits in Atlantic Canada, retailers, and tax payments.

Over the last fiscal year, a total of 721 Atlantic Canadians managed to win a lottery prize surpassing the CA$10,000 mark. The report also showed that this number has swollen compared to the previous fiscal year, when only 533 major winners were hailing from the region. Most of the winners this year hail from Nova Scotia, whereas Prince Edward Island has the least winners โ€“ only 45 individuals.

Growing Numbers

Over the past 52 weeks, some 308,253 individuals have used the online platform of Atlantic Lottery Corporation for virtual gaming or entering physical tickets into 2Chance. The lottery digital-enabled gross gaming revenue reached CA$125.70 million. The annual total corporate net profit managed to reach CA$346.50 million, whereas the annual gross gaming revenue fewer prizes paid to players was CA$637.90 million.

It should be noted that two of the most popular draw games, Lotto MAX and Lotto 6/49 scored great among patrons when it comes to net revenue. The Lotto MAX budget for this fiscal year was CA$66 million, whereas, in actuality, the net revenue reached CA$71 million. Lotto 6/49 had a budget of CA$41 million, but the net revenue was CA$37 million. Digital instants enjoyed net revenue of CA$31 million, even though the budget was CA$7.9 million.

It could be recalled that the beginning of this year saw a reported 500-percent surge of digital sales following the beginning of the unprecedented situation. New accounts witnessed a surge amounting to some 380 percent over 2020, driving forward the overall popularity of this digital hotspot.

Prince Edward Island organizations that plan to use lottery at events in order to raise funds witnessed a reduction of fees this summer. The province now charges a CA$25 flat fee, instead of a percentage of the prize value, for fundraisers over CA$5,000. The change means a loss of around CA$120,000 for the province, but it will guarantee more money for the charities.

Source: “Annual Report 2020-2021“, ALC, October 7, 2021