Loto-Québec posted “exceptional” financial results on Tuesday and said it had achieved its “best performance of the last 17 years”.
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The Crown corporation’s consolidated net income reached $1.2 billion for the third quarter of 2022-2023, while revenues amounted to $2.25 billion.
These results “surpass those of before the pandemic, in 2019-2020”, according to the president and chief executive officer of Loto-Québec, Jean-François Bergeron.
The respective increases are $295.8 million (+32.6%) and $521.9 million (+30.7%) compared to the same period of the previous year.
This is “Loto-Québec’s best performance since the anti-tobacco law came into effect. [de 2008]which had greatly impacted traffic in gaming establishments,” the state-owned company said in its financial results released on Tuesday.
Revenue from the lottery sector totaled $255.9 million, up 14% compared to the same quarter last year.
“This difference is largely attributable to Lotto Max, which offered more jackpots of $50 million or more (including eight jackpots of $70 million) and more Maxmillions than in the third quarter of 2021-2022”, was clarified.
“In the coming months, we will gradually deploy our new image, which reflects the evolution of Loto-Québec,” also announced Mr. Bergeron, without giving further details.