At a time when Alberta is exploring an Ontario-style, competitive, regulated, igaming model, crown corporations across the country are celebrating marks of achievement.
In the eyes of many, the rollout of the Ontario igaming market, 26 months ago, has been nothing short of a success story ($63 billion in total wagers for fiscal year 2023-24, according to iGaming Ontario).
Still, crown corporation Loto-Québec “has maintained its momentum and posted excellent results,” they said in a statement, releasing their 2023-24 fiscal-year results.
Saying they delivered “one of its best performances in nearly 20 years,” the corporation paid out more than $3 billion in 2023-24, including $1.508 billion to the Quebec government and $1.575 billion to winners.
“Our teams worked diligently to diversify our offering and ensure its responsible and efficient management,” said Loto-Québec president Jean-Francois Bergeron in a statement. “As a result, we maintained our ratio of total expenses to revenues at the desired level.”
In the statement, Bergeron pointed to the decision by the World Lottery Association to renew Loto-Québec’s Level 4 responsible gambling certification. “It shows that responsible commercialization is central to everything we do.”
He also referenced the announcement in 2023 that a hotel is being built on the Casino de Montreal grounds, which the crown corporation said will boost the casino as a top North American entertainment destination.
The results are the fourth highest in Loto-Québec’s history, a slight 2.2 percent decrease from the 2022-23 results.
Other highlights include $396 million in payroll to nearly 5,000 employees, $337 million to commissions paid to nearly 10,000 retail operators, $35 million indirect contributions to problem-gambling prevention, $14 million in contributions to over 500 nonprofit organizations, and $13 million in sponsorship contributions, including 54 Rendez-vous Loto-Québec events.
