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Loto-Qubec Annual Results

Loto-Qubec PLEASED WITH ANNUAL RESULTS

Success driven by management efficiencies.

Qubec Government Finance Minister Carlos Leito reported a strong rise in Loto‑Qubec’s total revenue and net income during an annual report to Qubec’s National Assembly late last week.

Key performance indicators for the 2015/2016 fiscal period include:

•    Total revenues of $3.560 billion, up 6.7 percent.
•    Net income totalling $1.227 billion, an increase of 10 percent.
•    Profit margins climbed 1.1 percent to 34.5 percent.
•    Casino revenues rose 3.8 percent to $806.2 million.
•    The lottery sector recorded a 10 percent rise in sales to $1.798 billion.
•    Espacejeux.com, Loto‑Qubec’s online gaming site, recorded a 35.2 percent increase in revenues to $66.2 million.

The results are attributed to management efficiencies which exceeded targets and produced gains of $95.5 million, the corporation said.

Expenses totalled $963.7 million, representing an increase of 0.9 percent compared to the previous fiscal year, despite inflation and higher salaries.

“While favourable circumstances certainly helped, the renewal strategy we implemented over the past two years and efficient management across all our sectors were the main drivers of our success,” Simon Patenaude, Loto‑Qubec’s acting president and chief executive officer explained.

The results delivered significant economic and social contributions that include:

•    A divided to the Government of Qubec of $1.202 billion.

•    Lottery, bingo and Kinzo winners took home $960.8 million.

•    Investments in the fight against excessive gambling of  $27.1 million.

In terms of online gaming, Loto-Qubec said while all espacejeux products had grown and the mobile channel continues to gain traction, its market share still represents just 25 percent highlighting the severe impact of illegal online gaming, a situation it expects to be rectified with the recent passing of controversial legislation which will allow the Government to utilise ISP blocking.



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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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