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.