MONTRÉAL, June 16, 2017 /CNW Telbec/ - Finance Minister Carlos Leitão submitted Loto-Québec's 2016-2017 Annual Report to the National Assembly this morning. The Corporation's total revenues reached $3.636 billion, which is $75.3 million higher (+2.1%) higher compared to the previous fiscal year. Loto-Québec paid a dividend of $1.206 billion, exceeding the target announced by the government by $58.2 million.
RESULTS
| Total revenues |
$3.636 billion |
+2.1% |
| Net income |
$1.231 billion |
+0.3% |
| Prizes paid out1 |
$1.012 billion |
+5.4% |
QUOTE
"We have successfully continued our renewal strategy over the past year, which is based on three strategic directions focused on entertainment, efficiency and responsible commercialization. We are pleased to present such positive results for fiscal year 2016-2017, explained Lynne Roiter, President and CEO, Loto‑Québec.
LOTTERIES: Higher revenues, more winners
- With sales of $1.828 billion, the lottery sector reported an increase of $30.3 million (+1.7%) compared to the previous year, despite the unusual fact that Lotto 6/49 and Lotto Max offered fewer major prizes during the period.
- 2016-2017 was marked by a record number of prizes paid that were worth over $1 million: 104 prizes were remitted, creating 122 millionaires.
- With regard to event betting, sales rose by $10.8 million (+16.5%), due in large part to higher odds (Mise-o-jeu+).
CASINOS: Good growth
- Casinos reported sales of $838.8 million (+$32.6 million or 4.0%).
- Varied entertainment offerings in establishments, more customers at gaming tables and the vigorous tourism trade all explain the excellent results.
- Patronage increased by some 267,000 visits (+3.0%) compared to 2015-2016.
GAMING ESTABLISHMENTS: Slight increase
- Gaming establishment products, which include video lottery terminals in bars and brasseries, the two gaming halls, bingo and Kinzo, accounted for $993.5 million of revenues (+$13.2 million, or 1.3%).
- Promotional activities in gaming halls boosted sales by 13.1% and patronage by 12.9%.
- A total of $7.1 million was paid to non-profit organizations holding a bingo licence, an increase of 20.8% over a period of 2 years.
ONLINE GAMING: Growing popularity
- Total revenues in the online gaming sector came to $85.9 million (+$19.7 million, or 29.7%).
- The increase applies to casino games, lotteries and sports betting. It is particularly significant on mobile devices.
- In 2016-2017, the number of Espacejeux.com members increased by 26%.
MANAGEMENT: Sustained efficiency
- The Corporation reached its objective for recurrent efficiency gains of $100 million set in 2014-2015, compared to real 2013-2014 expenses.
- 2016-2017 operating expenses declined by $31.3 million (-3.1%)2 compared to 2013-2014 expenses.
Finally, in June 2016, Loto-Québec was awarded Level 4 Responsible Gaming Framework certification, the highest international recognition for responsible gaming measures, for the third time by the World Lottery Association. This hallmark of excellence, which the Corporation has maintained since 2009, requires continuous improvement with regard to responsible gaming practices and programs.
The annual report is available on Loto-Québec' website. The English version will be available at a later date.
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1Prizes paid to lottery and gaming hall (bingo and Kinzo) winners.
2Excluding costs related to the reconfiguration of the video lottery terminal network.
SOURCE Loto-Québec
Patrice Lavoie, Corporate Director, Public Affairs, Press Relations and Social Media, Loto-Québec, 514-499-5130, [email protected], twitter.com/patricelavoie
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