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Profits SInk At Loto Quebec
Saturday September 8, 2012 : REVENUES AND PROFITS SINK AT LOTO QUEBEC
But online gambling operations surge almost 31 percent
Online gambling operations were one of the few bright spots in Loto-Quebec's Q1-2012 results for the period ended June 25, the Canadian provincial gambling provider reported this weeks
Internet gambling on the Espacejeux.com website delivered revenues up 30.7 percent over Q1-2011 at Cdn$ 5.9 million.
Overall, the province-owned group's results were hardly exciting; net profit fell 7.2 percent to Cdn$304.9 million as sales dipped nearly 5 percent to Cdn $842 million, a fall which Management blamed on the quarter being two days shorter than the corresponding period last year.
Land casino revenues decreased 6.2 percent from a year ago. Revenues from casinos in Lac-Leamy and Mont Tremblant increased by 1.8 percent and 4.2 percent respectively, but they fell by 10.2 percent at the Montreal Casino and 5.2 percent in Charlevoix.
Lottery sales rose 2.1 percent; video lottery sector revenues fell 1.1 percent and the smaller bingo sector increased 3.9 percent.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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