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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.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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