Single-Digit Increases
Loto-Quebec has posted its profits from the final quarter of 2024, reporting a strong end to the year with increases in both revenue and net income.
The company reported that it had generated $734.2 million in total revenue in the period spanning October 1st 2024 - December 31st 2024. This is the third-quarter of the 2024/24 financial year, and the final quarter to take place in 2024.
This was an increase of around 5.1% from the previous year’s earnings. The operator also reported net income was at $360.5 million, a 6.3% increase year-on-year from the same period in 2023. However, despite these being a year-on-year increase, they did show a decrease from the previous quarter.
A Strong Year
Speaking about the reports, President and CEO Jean-François Bergeron said that he believes they suggest that Loto Quebec is on course for a very strong year overall. He said, “Loto-Québec remains on track, with very good financial results that surpass last year’s.” He added that he was proud of everything the company had achieved and that, ultimately, this news only benefits Quebec as a whole.
Bergeron also noted that there had been an uptick in activities over the Christmas period, something which he believed was a big positive.
The company breaks its revenue down into three categories: casino and gaming halls, gaming establishments, and lottery products. It had noted that the numbers recorded so far in the 2024/25 financial year puts it on course for a record-breaking year for casino and gaming halls.
Canada looks to continue to be a major player in the gambling industry through 2025, with players keeping their eyes peeled for any updates regarding new regulations in Alberta, which could see the province open its doors to licensed gambling.
