Loto-Quebec Reports Remarkable Third Quarter 2022-2023 – Casino Reports
Loto-Québec has now had another remarkable quarter as it released its third quarter 2022-2023 financial report this week. During the quarter, Crown Corporation reported total revenues of $2.225 billion and consolidated net income of $1.204 billion. According to previous data, it is the best quarter since the introduction of the Tobacco Control Act.
Established in 1969 as a Crown State Enterprise, Loto-Québec provides responsible gaming and lottery products in the province of Quebec. It operates lottery games such as draw games and scratch cards, casinos and arcades, bingo parlors, video lotteries and online gambling through its online portal lotoquebec.com. Proceeds from its operations are reinvested back into the province.
For the period between September 27 and December 26, 2022, Crown Corporation gave away over $397.1 million CAD in lottery, network bingo and Kinzo rewards. That’s a total of CAD$1.103 billion since April 1, 2022.
Another important highlight of the third quarter was the rollout of the 100% Legal campaign, the message of which focused on the local aspect. It reminded that 100% of the amounts played on its iGaming platform are reinvested in the province. The crown too Sportsbook installed at the Casino du Lac-Leamy in November and the second at the Salon de jeux de Trois-Rivières in January.
In addition, the Crown agency supports several initiatives and non-profit organizations as part of its Giving Back program. As a result, Quebec residents were able to donate over $1 million to an organization of their choice during the fall. Also three of its properties renewed BOMA Best certification in Q3 recognizing excellence in energy and environmental management and commercial real estate performance.
Meanwhile, The Crown remains committed to highlighting the inspired and innovative spirit in the gaming sector and innovation in general by supporting the next generation. Company representatives will attend the MEGAMIGS Festival And the HUB Montrealwhere they awarded several grants and discussed the topic with other participants.
New Montreal project
In February, agency Crown announced plans for a potential video gaming venue adjacent to the Belle Center in downtown Montréal. The idea is to install hundreds of VLTs in the free space 1909 Tavern Modern Restaurant and benefit from the market. The details were first revealed by the organization’s CEO Jean-Francois Bergeron during a radio interview.
However, plans for a VLT property have not been well received by everyone in the area. dr Jeff DerevenskyHead of the International Center on Youth Gambling Problems and High-Risk Behavior, shared that gambling accessibility and gambling availability are bound to problem gambling. He said it will potentially give people the opportunity to develop a gambling problem or addiction.
Source: “Exceptional Results for Loto-Québec – End of Third Quarter of Fiscal Year 2022-2023” Yahoo FinanceMarch 7, 2023
https://www.casinoreports.ca/2023/03/08/loto-quebec-reports-remarkable-q3-in-2022-2023/ Loto-Quebec Reports Remarkable Third Quarter 2022-2023 – Casino Reports