The day Quebec announces the closure of casinos, Loto-Quebec announced that its results have caught up, during last summer, much of the lost ground.
The closure of casinos from 5 p.m. Monday is bad news for Loto-Québec’s future revenues. When we look at the results of the first six months of its 2021-2022 fiscal year (from 1er April to September 27), however, the Crown corporation had begun its takeover.
Loto-Quebec’s net income reached 79.4% of its pre-pandemic level in the first half of the year, the company said in a statement released Monday.
Loto-Québec also pointed out that the lottery sector posted its best semester since its creation with revenues of 513.8 million during the six-month period.
During the second quarter, Loto-Québec posted net income of 388.3 million for the 91-day period ended September 27. It posted a net profit of 282.2 million in the same period last year.
Revenues, for their part, stood at 681.5 million, an increase of 28.6% compared to last year.
The lottery sector remains stable with revenues of 229.5 million, compared to 230.5 million.
Revenues from casinos, which gradually reopened from mid-June, jumped 80% to 229.1 million. Gaming establishments saw their revenues increase from 174.019 million to 225.731 million.