Loto-Québec issued more information on its financial performance over the third fiscal quarter of financial 2019-2020. According to the numbers that became available to the public, the Crown corporation has managed to amass some CA$685.8 million over the span of the said three months of gaming operation in Quebec. When compared to the performance during Q3 2018, there has been an 11.1-percent drop.
Financial reports issued on a regular basis throughout the year provide a better perspective of the way a company is growing, developing, especially when it comes to the projects it is doing right or wrong. It is a time for retrospection and making sure that the corporation is on the right track. Such has been the case with the Crown corporation overseeing gaming products in Quebec.
Financial Report Issued
Loto-Québec recently issued information regarding the third quarter of the fiscal year. The said three months of operation came to an end on December 30, 2019 and covered the entire fall of 2019, as well as the holiday season. This period of the year is commonly known for being a busy one for the gaming industry.
People are more willing to try their luck and see whether Fortuna has their backs around the season of giving, as it is believed that miracles happen during that time of the year. The third quarter of the fiscal year managed to witness some CA$685.8 million in gaming revenue across the province. When it comes to breaking down this number, it all makes sense.
The Crown corporation pointed out that lottery offerings have not been as generous. On a provincial level, some CA$219.1 million has been generated by the various draw-based and instant lottery games up for grabs. Loto-Québec pointed out that Lotto MAX, one of the most popular gaming products has not given away that many Main prizes within the borders of Quebec, and this has affected the revenue rates.
Retrospection Takes Place
As for casino locations with great popularity, such as Casino Montreal, Casino Lac-Leamy, and more, they managed to amass some CA$247.8 million over the third quarter of the fiscal year. This amount managed to mark a five-percent decrease when compared to the performance in Q3 2018. Online offerings were also part of the revenue report issued, marking an increase. Some CA$247.8 million has been generated via online gaming offerings.
It should be taken into account that Loto-Québec also offers video lottery terminals in non-casino locations such as bars and restaurants in Quebec. It managed to amass CA$225.6 million over the said period. Last week was also a time for retrospection for the nine months of gaming operation of fiscal 2019-2020. Total revenue amassed managed to reach CA$2.101 billion, whereas the consolidated income amounted to CA$1.082 billion.
Taking into account this larger chunk of time, lottery gaming in Quebec amassed CA$668.9 million dropping 9.5 percent. The online gaming products available at espacejeux.com managed to reach CA$760.3 million or 1.7 percent of gaming growth. This year would be special for the Crown Corporation, as it marks half a century of gaming success. In order to commemorate it, Loto-Québec relaunched its Loterie Mensuelle ticket with its first draw on March 14.
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