Loto-Quebec Exploring Crypto As An Option

By Ben Hamill - February 26 2022

Loto-Quebec Exploring Crypto As An Option

With Crown corporation Loto-Quebec known to be constantly looking for new ways to improve the offerings and services brought to the people of the province, technology has been a huge focus point for the organisation. The Crown corp. this week announced that it is now exploring the possibility of allowing cryptocurrencies to be implemented as a form of accepted payment.

Loto-Quebec has been experiencing difficult financial times due to the on-again, off-again closures of its physical gaming properties in the province due to the ongoing outbreaks and the dynamic nature of the global health crisis. This persistent change in operations certainly took its toll on the Crown corporation’s income and day-to-day activities.

It therefore stands to perfect reason that the operator would want to venture deeper into the world of digital entertainment for creating value for shareholders and customers alike.

Crypto A Future Endeavour  

Speaking during a virtual presentation at the Quebec City Chamber of Commerce and Industry (QCCCI) this week, Loto-Quebec CEO and president Jean-Francois Bergeron shared just some of the organisation’s plans in terms of a possible future roll-out of cryptocurrency payments.

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Bergeron however added that while digital payments are being explored as a viable way forward, no plans have been set in concrete just yet. He said making cryptocurrencies available as a form of payment is something planned for implementation in a few years’ time.

Bergeron spoke about digital currencies being a growing lever, and own growing bigger and bigger as more banks and governments begin to show an interest in this modern form of tender. He also said he believes implementing cryptocurrencies within the context of Loto-Quebec and the broader Quebec gaming scene will mark a more complete way of approaching payments in the province in future days to come.

Better Days Are Coming

At present, Loto-Quebec’s retail casino properties remain closed down – and for the third time in a worryingly short space of time due to rising numbers of infections. According to Bergeron, the corporation’s second reopening had gone increasingly more hiccups-free than what had been the initial scenario. Bergeron credited this to a better idea on the part of the corporation as to how to react to the challenges of the situation.

Set to reopen on Feb. 28 are several of the Crown corporation’s gaming locations, including Casino Lac-Leamy, Casino Charlevoix, Casino Montreal, and Quebec City and Trois-Rivieres’ gaming rooms. The Casino de Mont-Tremblant, meanwhile, is expected to reopen its doors for business on March 3.

This is good news especially for employees, who Bergeron said were currently low on morale due to large-scale layoffs.