Loto-Québec has changed the way it shares information with the public when it comes to its financial performance. Gambling operation of each of the casino venues and gambling halls is no longer disclosed in a detailed manner, and former finance minister Carlos Leitão expressed his discontent with the change of policy the Crown corporation described as revealing of confidential information.
The change of the way Quebec’s gaming leader reveals information about its gaming locations and casinos has changed a lot over the course of the past twelve months. The Crown corporation is no longer willing to disclose the gaming revenue generated by each and every casino venue or gambling hall it oversees.
Confidential Informaiton
Instead of specifying the financial performance of every brick-and-mortar venue, Loto-Québec reveals a sort of an overview summing up all four casinos and two gaming halls within the borders of Quebec. The change has come in effect over the past year and the Crown corporation has its own explanations about it. It points out that unveiling the financial performance of every venue is confidential information that should remain such.
As a result, Quebec residents are unable to receive information about the levels of success of each of the four land-based casinos, as well as the two gaming halls in the province. The end of every quarter of the fiscal year brings a financial report and in the past, pieces of information it provides have proven to be useful for the casino host communities.
For example, the overall performance and popularity of casino venues such as Casino Charlevoix and Casino Mont-Tremblant. They have experienced a customer outflow reflected in the gaming revenue generated by the two locations. Now, Loto-Québec prefers to keep this information to itself. However, this change of the way information is being publicly issued and distributed is something officials refuse to understand.
February Saw a Change
Former finance minister Carlos Leitão, recently pointed out that the way financial reports are being structured is unacceptable. He expressed his surprise by the decision of the Crown corporation, as he deems the pieces of information valuable for the future development of the casino venues of Quebec. Mr. Leitão stated that it is a known fact that Casino Montreal is the most popular of the four casinos in Quebec.
Such has been the case throughout the years, as revealed by previous financial reports. He also made it clear that the lack of information makes it almost impossible for residents and investors to know whether improvements at the casino venues have given the desired results. It could be recalled that February 2020 saw the Crown corporation introduce a more streamlined and simplified revenue disclosure.
This change took place via the internal policy review that has been in progress since the summer of 2019. This new way of presenting information eyed simplicity when it comes to the information flow. Moreover, as a result of the policy review, the Crown corporation decided that casinos and gaming venues should be perceived as a unified entity.
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