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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 :
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
MLB Odds: Yankees Favored in AL Wild Card Game -
After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.
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