Online Gambling Contributes to Loto Quebec's Increased Revenues
In its latest financial report, Loto Quebec reported that since it launched online gambling four months ago, the results have been very positive.
The group said that in the first four months of operation, Espacejeux realized $7 million in revenue and over 37,700 subscribers.
"At the end of the first four months of operation, results are in keeping with estimates: 37,753 subscribers, of which about 60% were considered active, and revenues of some $7 million," read the report.
"Development of a complete and competitive offering will continue over the coming years," it said.
Espacejeux offers Quebecers the chance to play online casino games legally, in line with provincial legislation.
Other Gambling Statistics
Loto Quebec noted other results in its annual report, as follows:
- Consolidated revenues of $3.675 billion were reported.
- Net earnings of $1.338 billion were reported, despite an $80 million decline in sales.
- Quebec's four casinos saw only a small drop in revenues, despite of the poor performance of land casinos in the United States.
- 20% of sales were contributed to Loto Quebec's Lotto Max brand.
- The province's residents won $62 million in lottery prizes - double the previous year's amount. One Quebecer won the biggest Lotto Max prize ever - a whopping $37.6 million!
- Video lottery revenues decreased by 4%.
- Loto Quebec spent nearly $14 million on sponsorships across 136 events, as well as a $10 million contribution to Montreal's symphonic orchestra.
- $31.1 million was invested in combating compulsive gambling in the province.
- Commissions to lottery, video lottery and bingo partners reached $350 million.
- Following the government's decision to reimburse problem gamblers for therapy sessions that they underwent between 1994 and 2002, Loto Quebec paid out nearly $400,000 to cover these expenses.
