Loto-Québec achieves nearly $3B revenue amid challenges

Despite the recent downward trends experienced by Loto-Quebec, it continues to shine, having collected almost $3 billion in the fiscal year 2023-24. Following payments made to winners, amounting to $1.5 billion, the firm’s net earnings reached $1.5 billion. The profits found their way into the communities via the government of Quebec. 

Out of the $2.92 billion revenue generation, the casinos and bingo outlets contributed $1.1 billion. This was in spite of confrontations pertaining to four casinos last year. An additional $958.8 million was spent in the lottery sector, and $885.5 million was spent in gaming businesses. 

In 2023, the operator generated a net income of less than $1.6 million. Its total revenue stands at $2.93 billion. 

In the meantime, the World Lottery Association has extended its level 4 license for responsible gambling. 

According to the company’s President and CEO, Jean-Francois Bergeron, the shining figures are attributed to cost control and more effective control of operational matters. In his opinion, their entire team must be lauded for putting in their effort to meet targets. 

Bergeron took the time to divulge that their forward vision now is to construct a hotel on the Casino de Montreal land. Following its completion, it will be positioned as the number-one casino in North America. 

Regarding their online gaming business, he emphasized that they are closely monitoring the segment and will make all the necessary changes as and when required. Their intention is to bag the top position and maintain it, along with making responsible gambling their topmost priority.

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