Quebec’s provincial gambling monopoly reported online revenue rising nearly one-quarter in the first half of its fiscal year.
On Thursday, Loto-Quebec reported revenue of C$1.75b (US $1.29b) in the six months ending September 26, essentially flat from the same period last year. However, tighter control over expenses allowed profit to rise 3.5% to C$639m.
Loto-Quebec’s mainstay lottery revenue fell 2.3% to C$852.6m, partly as a result of fewer major jackpots on offer. By comparison, land-based casino revenue rose nearly 5% to C$421.4m thanks in part to “vigorous tourism trade,” likely spurred by the weakness of the Canadian dollar versus the US greenback. Gaming halls reported a 1% rise in revenue to C$491m.
Loto-Quebec’s online gambling site Espacejeux.com, which celebrates its sixth birthday on December 1, continued to outpace other verticals, rising 24% to C$35.2m, putting it on pace to break the previous fiscal year’s total online revenue of C$66.2m. Loto-Quebec credited the ongoing gains to a wider variety of gaming options and efforts to enhance the customer experience.