In its latest quarterly update, Loto-Québec posted single-digit increases in both revenue and net income for the final quarter of the 2024 calendar year.

In Canadian Q3 2024-25, running from Oct. 1 to Dec. 31, the crown corporation generated $734.2 million in total revenue, up 5.1% year-over-year from Q3 FY 2023-24. Net income was $360.5 million, a 6.3% year-over-year increase.

While those dollar amounts were both increases over the same quarter last year, they were down 9.8% and 14.5% from the July 1 to Sept. 30, 2024, period.

For the full year so far, from April 1 to Dec. 31, 2024, revenue is at $2.23 billion (up 6% year-over-year) and net income is $1.13 billion (up 5.2%).

President and CEO Jean-François Bergeron said the results show that the crown corp. is on track to hit its income goal for the fiscal year.

“Loto-Québec remains on track, with very good financial results that surpass last year’s,” said Bergeron. “This strong performance moves us closer to achieving our annual net income target. We’re very proud of it, especially since it ultimately benefits all of Quebec.”

Bergeron added that the annual uptick was helped by a strong performance over the holiday season. “The lineup of activities was appealing, as the increase in traffic shows,” he noted.

Casino sector on course for record year

Loto-Québec breaks down its revenues into three categories: casino and gaming halls, gaming establishments (including sports betting, VLTs in hospitality establishments, bingo and other offerings) and lottery products.

Casino and gaming halls make the most revenue. From April 1 to Dec. 31, 2024, that sector provided $906.8 million in revenue, 40.7% of total revenues. Lottery produced $703.4 million (31.5%) and other gaming establishments yielded $645.5 million ($28.9 million).

Loto-Québec’s release noted that puts the casino and gaming halls vertical on course for an all-time record year.

Loto-Québec unveils major deals

Last quarter, Loto-Québec began to see the effects of multiple new online and retail casino gaming offerings.

At the end of September, just before Canadian Q3 started, it launched the first cross-platform mystery jackpot using Light & Wonder technology. The progressive jackpot game, SUPER CAGNOTTE, is available through Loto-Québec’s online gaming portal including lotoquebec.com, as well on COSMIC gaming machines on casino floors.

The following week, B2B gaming provider Inspired Entertainment announced that Loto-Québec would be the first operator in Canada to offer its new Hybrid Dealer Roulette game.

And in November, casino livestreaming specialists awager unveiled its third product version with Loto-Québec, an immersive gaming experience with real-time interaction and 4K streaming from Casino de Montréal.

The lottery also signed up Canadian games developer Bragg Gaming Group last month, giving the supplier access to the province. Loto-Québec’s online platforms now offer exclusive games from Bragg’s in-house suite of content studios, as well as titles from multiple content partners under the Powered By Bragg program.

Loto-Québec is the only government-recognized regulated online gaming operator in Québec but there is a significant unregulated market. Bergeron estimates that the crown corp. holds 60% of the province’s total iGaming and online sports betting market, although H2 Gambling Capital data suggests its share is more like 44%.