Loto-Quebec Q3 Repost Indicates Recovery
Canadian gaming giant and Crown corporation Loto-Quebec recently released its latest financial figures. The good news is that the corporation appears close to fiscal recovery following the unprecedented effects of the worst of the global health crisis.
The most recent report deals with the third quarter of 2021, and reflects several highlights, including the grand opening of the Salon de jeux de Quebec at its new location. The casino was last year moved to the Mega Centre Beauport.
The casino officially opened its doors to patrons at the new location on November 29, 2021, which marked yet another significant milestone for the Crown corporation.
A Time Of Highlights
But last year was a year for more than one highlight for Loto-Quebec. The corporation also celebrated the 20th anniversary of the Hilton Lac-Leamy on Oct. 8.
As for Q3, the quarter proved a lucrative one for the operator. Loto-Quebec reported revenue and net income of up to 94 per cent of its pre-crisis levels of 2019-20. This means the Crown corporation reported revenue income in the amount of CA$619.9 million and net income of an impressive CA$324.7 million for Q3 of 2021.
Best of all is that these figures represent a massive 70.1 per cent and 120.9 per cent improvement over the same quarter of 2020, respectively.
Online gaming, too, played a deciding role in terms of the improvement, with iGaming income up by 2.1 per cent, or CA$1.3 million. While iGaming revenue income had been relatively slower than previous quarters, this can be explained by land-based gaming returning to a sense of normality.
Not Without Challenges
Challenges abounded for Loto-Quebec also, as commented on by CEO and President Jean-Francois Bergeron.
According to Bergeron, Loto-Quebec experiences regular cyber-attacks on a daily basis, and that the corporation has had to implement several measures to protect itself from these onslaughts. These attacks are mainly of Russian origins, confirmed the chief executive.
To this end, Bergeron also confirmed that the Crown corp. has placed a sanction on accepting wagers on Russian sporting events. Bergeron explained that this decision was taken in support of the Ukraine.
Exciting New Collaborations
In more positive news, Loto-Quebec recently inked an exciting new collaboration alongside award-winning iGaming studio, High 5 Games.
The new deal means lotoquebec.com players will soon get to enjoy top High 5 titles like Secrets of the Forest Extreme and Triple and Quadruple Double da Vinci Diamonds.
The Crown corp. also recently extended its supply deal with Instant Win Gaming. The developer is a supplier of e-instant games to Lotteries.