Loto-Quebec is a government agency, created in 1969, that develops and runs lottery games in the Canadian province of Quebec.
The latest financial report from operator Loto-Quebec has shown positive results for the first months of 2011, seeing an increase of $7 million in revenues and 37,753 in subscribers, of which about 60% were considered active.
“At the end of the first four months of operation, results are in keeping with estimates: 37,753 subscribers, of which about 60 percent were considered active, and revenues of some $7 million. Development of a complete and competitive offering will continue over the coming years,” notes the report.
According to the report, the launch of the Espacejeux website last December, has been one of the highlights of the year, that allowed adult Quebec players to legally play various online games of chance. Espacejeux online gaming offers its players eight types of poker, table games like baccarat, sic bo and red dog, as well as a variety of blackjack and roulette games.
Loto-Quebec's 2010-2011 Annual Report also notes that the net earnings from all their other gambling activities have remained stable despite the lower revenues. Loto-Quebec reported consolidated revenues of $3.675 billion and net earnings of $1.338 billion for the period. Thanks to a strict expense control, the corporation was able to reveal net earnings similar to last year's figures, despite an $80 million decline in sales.