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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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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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