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 (April 1 to September 27), the crown corporation had however begun its recovery.
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% from last year.
The lottery sector remains stable with revenues of 229.5 million, compared to 230.5 million at the same time in 2020.
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.