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Loto-Quebec Increase in Lottery and Online Gaming Popularity

Loto-Quebec increase in Lottery and Online Gaming Popularity Makes Revenue Goals Viable

Millions of people are gambling nowadays. Think of old people, women, youths, men and all levels of people. Each of them stakes with some money. From the many users, only a few players win. All the other players lose. Where does that money go? The money goes to the game operators.

In other words, gambling is a massive source of money. While the government tries to put some laws and policies, they find it tricky to put across tight laws that can make gambling freeze. The reason is that gambling is a major source of revenue to the government.

In last year 14^th June 2018, Carlos Leitão the finance minister submitted the 2017-2018 annual report of Loto-Quebec to the national assembly that morning. What will surprise you is that the total revenues hit $3.769 billion. When compared with the previous fiscal year, the amount was higher with $133.6 million. In percentage, that’s an increase of 3.7%. Sounds good?

From the revenues earned, Loto-Quebec honoured their dividends of $1.310 billion, which is a bit higher than the previous year’s annual report with $104.9 million. You won’t believe that the revenues surpassed what the government was targeting with a whopping $169 million. That must be crazy, right?

What did the President say?

The Loto-Quebec’s president and also the CEO, Lynne Loiter explained that their outstanding performance is as a result of combined efforts from all their business sectors (lotteries, casinos, online gambling, and gaming establishments) to make what they can offer more colourful and choose the best management practices coupled with their responsible commercialization framework.

Some highlights

The reason why the revenue is growing in the four casinos is because of the focus directed to different entertainment offerings. The 2017-2018 fiscal year recorded 29,000 more visits (equivalent to 3.1% increase) when compared to the previous fiscal year, which had recorded 3.0% compared to 2015-2016 fiscal year.

When it comes to the gaming establishment sector (we’re talking about video lottery terminals in brasseries and bars a well as gaming, Kinzo hall, and bingo) recorded a small increase in revenues. However, the video lottery terminals in brasseries and bars were quite stable, or it decreased in only areas that are a big focus for VLT withdrawal plan. Contrary, the two gaming halls kept shining, showing good results. Unfortunately, what seemed to be affected by the industry downswing was Bingo.

Even better, lottery sales are skyrocketing. Quebecers adopted a pan-Canadian product called Grand Vie that was launched back in 2016. From the Loto-Quebec’s demonstrates a significant market share of 33.4%. These incredible results can be linked with event betting (12.3% increase) and instant lotteries (13.9% increase)- the two are popular in last year’s financial year.

Without forgetting, the popularity of Loto-Quebec’s online gaming is continuously increasing each year. Following the previous year’s financial report, the total revenues- regardless of the type of game combined- summed up to $118.0 million. When converted into a percentage, that will be an increase of 37.5%.

It was early 2019 when Loto-Quebec introduced its brand new LotoQuebec.com portal. This portal served to bring the entire games in one location. This approach eased and simplified navigation between the entire product lines for it to provide its players with a more mobile-friendly and fluid online experience.

The overall performance of Loto-Quebec is increasing due to the excellent social responsibility initiative that offers amazing contribution to the communities from environmental, economic, and social standpoints. Truly, responsible commercialization found in Loto-Quebec becomes the heart of the initiative. To ensure the integrity and rock-solid security, The WLA (World Lottery Association) renewed their security certificate.