FY 2018-2019 - 1st Quarter: Loto-Québec reports higher revenues

MONTRÉAL, Sept. 7, 2018 /CNW Telbec/ - Loto-Québec reports positive results for the start of the 2018‑2019 financial year. Consolidated revenues reached $686.5 M, an increase of $41.6 M (+6.4%) compared to the same period last year. Net income amounted to $359.8 M, a gain of $34.7 M (+10.7%).

 

KEY FIGURES


2018-2019

2017-2018

Consolidated revenues

$686.5 M

$644.9 M

Net income

$359.8 M

$325.1 M

 

QUOTE
"Loto-Québec was able to attain positive results during this first quarter thanks to the efforts of all of its sectors. I'd like to thank all our teams for their excellent work," said Lynne Roiter, Loto-Québec's President and CEO.

HIGHLIGHTS

  • Lotteries: Increase of 22.5% in revenues and 28.7% in net income
    The lotteries sector performed best. Lotto Max offered record prizes, and the $60 M jackpot was once again won in Québec. The 100 $ ULTIME lottery was also very popular and produced several millionaires. Instant lottery sales are growing thanks to original concepts that customers love.
  • Casinos: Stable revenues and net income
    Casinos have made several customers really happy with the Leave in a BMW theme, creating a lively ambiance that revved up the entertainment factor and enabled several of them to win a range of prizes. If there had not been one day less in the quarter, revenues would have risen by $2.9 M (+1.4%). Another factor to consider is the increase in the total prize amount that was paid to Casino de Montréal customers, which negatively impacted revenues.
  • Gaming establishments: 1.4% lower revenues and stable net income
    In the gaming establishment sector, revenues from bars and brasseries were lower due to the withdrawal of terminals in areas targeted by the action plan for video lottery terminals. On the other hand, gaming halls performed well.
  • Revenues from the lotoquebec.com website, all types of games combined, rose by 34.9%.

Note: Due to new accounting methods, prizes paid out are now deducted from lottery, bingo and Kinzo revenues, as was already the case for casinos and video lotteries (more details are available on page 6 of the quarterly report). Figures for 2017-2018 were therefore adjusted. Gross profit and net income were not affected.

The quarterly report is available on Loto-Québec's website.

 

SOURCE Loto-Québec

View original content: http://www.newswire.ca/en/releases/archive/September2018/07/c2297.html

This article was written by cool news network.

Get the latest news delivered to your inbox

Follow us on social media networks

PREV Insider Buys Of The Week: Coty, Keurig Dr Pepper, Take-Two Interactive
NEXT Earnings Scheduled For September 4, 2018