Loto-Québec has revealed the growing importance of online casino and lottery income in the Canadian province after reporting record total revenue and consolidated net income for the first half of the 2022-23 financial year.
Loto-Québec’s registered a 35.4% increase in total revenue to CA$1.466bn (€1.02bn/£877m/US$1.08bn), while consolidated net income rocketed by 37.9% to CA$805.3m year-on-year, although several gambling activities were halted between April and the middle of June 2021.
The crown corporation noted that the increases in revenue and net income in comparison with the first half of the last pre-pandemic year were 3.5% and 9.4%, respectively.
Similarly, the cost-to-revenue ratio improved from 31.0% to 27.9%, with Loto-Québec hailing cost-control efforts across the corporation.
Growing online appetite at Loto-Québec
The latest figures, though, underlined the growing appetite for online products.
Revenue from online lottery sales accounted for 12.7% of total segment reve..