Loto-Québec released “extraordinary” financial results on Tuesday and said it had achieved its “best performance in 17 years.”
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Crown Corporation’s consolidated net income for the third quarter of 2022-2023 reached $1.2 billion, while revenue was $2.25 billion.
These results “exceed those seen before the pandemic in 2019-2020,” according to Loto-Québec President and Chief Executive Officer Jean-François Bergeron.
The respective increases are $295.8 million (+32.6%) and $521.9 million (+30.7%) compared to the same period last year.
This is “Loto-Québec’s best performance since the Tobacco Control Act was enacted. [de 2008]which severely impacted traffic in gambling establishments,” the state-owned company said in its financial results released on Tuesday.
Lottery revenue totaled $255.9 million, up 14% from the same quarter last year.
“This difference is largely due to Lotto Max offering more jackpots of $50 million or more (including eight jackpots of $70 million) and more Maxmillions than in Q3 2021-2022,” it clarified.
“Over the coming months, we will gradually deploy our new look and feel that reflects the evolution of Loto-Québec,” said Mr. Bergeron, without giving further details.