For the 85 days between April 1 and June 24, 2024, Loto-Québec posted total revenues of $689.7m and a consolidated net income of $349.7m.
Lottery product sector revenues amounted to $219.1m, casino and gaming hall sector revenues were $275m whilst gaming establishment sector revenues totaled $200.7m.
The corporation said it was proud to reveal these results, which fully align with its forecast. Nevertheless, they reflect respective drops of $21.4m, down three per cent and $31.2m, down 8.2 per cent over the 87-day first quarter of fiscal 2023–2024. The lottery sector alone paid out $337.4m in prizes to winners.
The drop in revenues is largely because the quarter is two days shorter. The gap in net income is entirely due to one-time events in the first quarter, including the two days less, which will be resolved as the year progresses. Sound management efforts resulted in a continuous optimization of the ratio of total expenses to revenues. In the coming months, the teams will continue their work while upholding the principles of responsible commercialisation and the interest of the Québec community.
President and CEO Jean-François Bergeron said: “Our teams’ remarkable commitment and work led to very satisfying results that align with our forecasts. This enables us to continue facing the upcoming months with optimism. The efforts to improve efficiency and the principles of social responsibility remain at the core of our priorities across all sectors.”
“Throughout the quarter, our teams put their talent and skills to work to continue enhancing our offering. Several new initiatives and improvements were implemented both online and at gaming locations. Our customers greatly enjoy the wide variety of activities we have for them at casinos and gaming halls.”
“Once again, we’ve invited Quebecers to join us at the fifty or so festivals we support across Québec. We’re proud to cooperate with events that share our environmental responsibility values and continue to support organizers as they take steps toward this goal.”