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ONLINE GAMBLING REVENUES BOOST LOTO QUEBEC RESULTS

Monday August 22,2011 :  Cdn$4.5 million from Espacejeux ameliorates group losses
 
Revenues from Loto-Quebec's recent venture into online gambling  helped ameliorate group declines in revenues, according to the provincial government company's latest results.
 
Espacejeux.com revenues of Cdn$4.5 million helped bolster results in which the group reported a decline of almost 4 percent in first quarter of 2011 revenues despite an infusion of new money from the online gambling venture.
 
The provincial gambling corporation generated $882.3 million in revenue in the first 88 days of its 2011 fiscal year, compared to $916.8 million for the first 89 days of 2010, the Montreal Gazette reported this week.
 
Net quarterly profit dropped almost six percent year-over-year, to $328.6 million from $347.6 million.
 
CEO Alain Cousineau reported that lower gambling revenues were largely anticipated and had been signalled to the Quebec provincial government.
 
“In general, the first quarter results are consistent with our expectations,” Cousineau said in a statement.
 
Only the Bingo sector saw an increase in year-over-year revenue, with the top-line jumping 5.6 percent to $8 million, largely due to the new Kinzo game and Kinzo rooms.
 
Revenue from lottery products dropped 5.1 percent to $427.7 million, while casino revenue dipped 4.6 percent to almost $207.4 million.
 
Quarterly revenue from video lottery terminals dropped to $242.8 million from $250.1 million, year-over year. That could be explained in part, the corporation said, by the additional day of revenue in fiscal 2010. One day of revenue from VLTs is about $3.8 million, it said.
 
Cousineau will leave his post as Loto-Québec CEO on November 6, to be replaced by Gérard Bibeau, a provincial bureaucrat described as the most senior official in Quebec’s public administration.



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

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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