Loto-Québec profits jump nearly 16%


Loto-Québec raked in $340.5 million in profits in its third quarter, an increase of nearly 16 per cent compared with the same period last year.

Revenues followed a similar course, totalling $945 million over the 91-day period ending Dec. 25, a jump of more than 10 per cent. Loto-Québec spokesperson Patrice Lavoie noted that this is the 11th consecutive quarter to see increases.

The crown corporation’s lottery and casino operations saw increases in revenue of 15 per cent and 10.6 per cent, respectively.

Loto-Québec said that over the course of the quarter, 17 prizes of $1 million or more had been won in the province, creating a record 132 new millionaires in 2017.The quarter also saw nine co-workers win $60 million in a Lotto Max draw on Dec. 22.

Since the start of its fiscal year, Loto-Québec has posted a little over $1 billion in profit, while revenue increased by 5.67 per cent to $2.76 billion.