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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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