Atlantic Lottery Returns Record Profit To Region
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Atlantic Lottery Corporation posted a record profit of $438.1 million in the last fiscal year (2021-22) which has been returned to the four Atlantic Provinces.
“This past year was a real success story thanks to our dedicated employees and the support of our players, retailers and shareholders,” said President and CEO Patrick Daigle.
“Atlantic Lottery is eager to meet the needs of our players by continuing to evolve into a modern, digital-focused company, and we are thrilled to see the results of that approach as we return a record profit to the four Atlantic Canadian provincial governments.”
In a breakdown, Nova Scotia and New Brunswick each received about $140 million, Prince Edward Island got almost $24 million and Newfoundland and Labrador received $135 million.
The profits will support vital programs and services in the region such as health care, education and infrastructure.
ALC noted Lotto Max sales were at an all-time high thanks to big jackpots, gross sales at Pro-Line set a new record and it was the most profitable year ever for the P.E.I. Red Shores racetrack and casino locations.
The iLottery share of net profit increased to 18 per cent in the last fiscal year from 16 per cent the previous year.
Despite this success, Atlantic Lottery remains concerned about the presence of unregulated gambling sites that are not permitted to legally operate or advertise in Atlantic Canada under Canadian or provincial laws.
“Some Atlantic Canadians may not realize that Atlantic Lottery is the only 100 per cent legal and government-regulated provider of online gambling and sports-betting products in our region,” Daigle said.
“Unlike unregulated gambling sites, we are accountable to government regulators and all of our profit stays in Atlantic Canada, directly benefiting the communities in the four Atlantic provinces.”
Daigle said the corporation will continue to provide new digital games and experiences for players, while also exploring ways to enhance Atlantic Lottery’s retail and venue spaces.
