Online earnings rocket for Loto-Quebec

Loto-Quebec is also the operator of the EspaceJeux.com website and revealed that revenues from online gaming for the final 91 days of last year rose over 187 percent year-on-year to us$ 4.7 million.

However, Loto-Quebec reported that total revenues for the previous three quarters dropped almost 0.7 percent year-on-year to us$ 2.683 billion despite earnings from online gambling for the 270-day period rising some 725 percent to us$ 13.3 million.

Overall, Loto-Quebec declared that its earnings for the final three months of 2011 improved by 2.4 percent year-on-year to us$ 339 million while those for the previous trio of quarters hit us$ 1.004 billion, which was almost a two percent decline when compared with the same 270-day period in 2010.

“This growth in overall earnings reflects, in part, the rigorous management of the corporation’s expenditures, accounting for a reduction of us$ 4.2 million, or 1.8 percent, during the quarter.

“At the end of the first nine months of fiscal year 2011/2012, the total revenues of us$ 2.683 billion are almost identical to those of last year since the period of comparison has one fewer day. As for the reported overall earnings of us$ 1.004 billion, the decrease is less than two percent.”