Loto-Québec first half revenue tops $1.41 billion

Finance News

Loto-Québec announced results for the first half of the 2023–2024 fiscal year that are in line with its normal growth trajectory.

The corporation posted total revenues of $1.412G and a net income of $736.8M for the period from April 1 to September 25, 2023. Excluding last year, which was exceptional, this marks its best performance in several years.

Lottery revenues stood at $452.8M. The first half of the year saw fewer Lotto Max $50M+ jackpots and Maxmillions prizes offered. Online lottery revenues represented 12.5% of the sector’s total revenues.

Continued sound management across all sectors of the organization helped maximize benefits for Québec, as evidenced by an excellent total expense to revenues ratio of 29.6% for the first six months of the year.

“Thanks to our efforts, we have achieved the results we anticipated for the first six months of fiscal 2023–2024, despite an economic climate that is putting pressure on Quebecers’ pocketbooks. I would like to take this opportunity to thank our teams for their outstanding work. We’re maintaining the focus on our objectives,” said Jean-François Bergeron.

“Our 2023–2026 Strategic Plan has been tabled at the National Assembly. It will guide our actions and help us seize opportunities that arise, particularly with regard to changing consumer habits. We believe it’s important to keep modernizing our offerings in a responsible manner, as always.”  

“We also unveiled our 2023–2028 Corporate Social Responsibility Plan. It aligns with our strategic plan, demonstrating our commitment to balancing the commercial and social aspects of our mission so that we make a positive contribution to the community.”