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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.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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