Atlantic Lottery posts ‘record online results’
Atlantic Lottery President and CEO Patrick Daigle has released the corporation’s 2020-21 annual report and financial results.
“I am happy to share Atlantic Lottery’s 2020-21 financial results and to announce that the corporation returned $346.5 million to the four Atlantic provinces last year,” Daigle said. “Atlantic Lottery and its employees are proud of the returns delivered to our region and our communities during this challenging year.”
Of the total profits in 2020-21, Atlantic Lottery returned $118.9 million to Nova Scotia, followed by $118.6 million to New Brunswick, $94.3 million to Newfoundland and Labrador, and $14.7 million to Prince Edward Island.
Profit returned fell $48.9 million short compared to the previous fiscal year. This was primarily a result of safety measures implemented during the pandemic which included a temporary shutdown of operations in the Destination line of business. The Destination line of business returned $80.4 million less than the year prior, while the Retail and iLottery lines of business partially offset this shortfall by exceeding the previous year’s return by $31.5 million.
Atlantic Lottery’s alc.ca platform experienced record sales in 2020-21 and continues to grow, demonstrating the importance of the corporation’s growing online presence.
“Atlantic Lottery continues to invest in its digital channels and is working to modernize our player experiences so we can continue to compete in this highly competitive market and maximize future profit returns,” Daigle said. “This focus helped us to pivot during COVID-19 and identify ways to continue providing our players with exceptional experiences despite service disruptions.”
The iLottery share of net profit increased to 16 per cent in 2020-21 from four per cent the previous year, while the share of total lottery sales from the iLottery line of business increased to 27 per cent from 8 per cent.
“We will continue to put our players first, providing innovative new products and experiences in a responsible and regulated manner,” Daigle said. “We are constantly evolving to ensure we are able to deliver on our mandate to return 100 per cent of profit to the four Atlantic provinces and support our local communities for many years to come.”
Atlantic Lottery is publicly owned by the four Atlantic provinces and returns 100 per cent of its profits to the four provincial governments. Founded in 1976, Atlantic Lottery has since returned more than $10 billion in total profits to the region.