11/26/2012 : LOTO-QUÉBEC TURNS IN BETTER RESULTS
Online sector continues good performance
Canadian provincial gambling provider Loto-Quebec released its Q2-2012 results, delivering a stronger performance that that in its first quarter which it attributes to stringent spending controls and the continued robust performance of its online gambling offering at Espacejeux.com.
Internet gambling on the Espacejeux.com website delivered revenues of CAD$ 5.2 million up by 24.9 percent over the second quarter of its fiscal year 2011-2012.
The group posted revenues of CAD$917.4 million and reported profits of CAD$344.4 million up by 1.9 percent and 2.5 percent respectively compared to the same period the previous year.
Profit in the lottery sector rose by 3.6 percent to CAD$436.6 million, an increase of 2.1 percent whiles its four terrestrial casinos returned CAD$231.3 million in reported earnings, up 2.1 percent.
Video lottery revenues contributed CAD$248.3 million, marginally down from last year, however, its bingo sector revenues are reported at CAD$9.4 million, up by 7.8 percent which it says it can directly attribute to its halls hosting the Kinzo game.
In related news, the company announced the establishment of a "vice-presidency" dedicated to responsible gambling which will be headed up by Ms. Guylaine Rioux, a member of the Collège des médecins du Québec. Her responsibilities will include the development and maintenance of best practices in responsible gambling across all sectors of Loto-Quebec.