Casino industrry in Quebec growing as Loto-Québec has record-breaking year
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Loto-Québec has posted record numbers for the 2021-2022 fiscal year. The industry is growing in popularity. In this article, we will see what the future of online casinos and gambling looks like in Québec.
Loto-Québec had record-breaking revenues for 2021-2022. Lottery sales made $1.043 billion, which is the first time in its history that the lottery sector topped $1000 billion. The corporation also met its target budget by posting a consolidated net income of $685.6 million.
All Quebec casino sectors are seeing growth. Lottery performed the best. Loto-Québec has a record-breaking year.
Casinos and gaming halls posted impressive revenues. The sector posted a 96.9% increase from the 2020-2021 year. Online casino revenue totaled $18.4 million, up 7. 4% from previous year and 40.2% of all casino and game hall revenue.
Gaming establishments posted impressive numbers, increasing revenues by 141.1% compared to the 2020-2021 fiscal year. The 2021-22 year had more days where establishments could open compared with the previous year, but bars were still closed for much of this time.
For 2021-2022 year, online gaming brought in $390 million of revenue. This is a 6.1% increase over the 2020-21st fiscal year. Online gaming accounts for 17.6% of Loto-Québec's total revenue, which is an increase from 5.0% in 2019-2020.
Quebec is making moves toward improving its online casino offerings. Loto-Québec announced it would be expanding its presence online through its partnership with Evolution Gaming. Evolution recently announced revenues that topped $1 billion. The new live casino games will be hosted on Casino Montreal, a subsidiary of Lotto-Quesne.
Quebec's gambling industry has weathered the last couple of years of uncertainty thanks in part to online gaming and casinos.
