Loto-Québec Posts H1 2022-23 Results
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Loto-Québec, Canadian lottery operator, has posted a report on the benefits of online casino and lottery. The digital vertical significantly contributed to the company's revenues during the first half of the 2022-23 financial year.
Loto-Québec reported record-breaking revenue of $1.07 billion for the April-September period. The company's consolidated net income reached $589.3 million for that period, which is a 37.9% year-on-year increase. Loto Québe's cost-to-revenue ratio improved from 31% to 27. 9%.
Loto-Québec's post-COVID recovery is thanks to the company's online vertical. Online lottery sales accounted for 12.7% of the total lottery revenue, which is 273% increase from the pre-pandemic period. The online casino sales now account for 23.8% and 8.9% respectively.
Loto-Québec has posted record-breaking results for H1 2022-23. The company is enthusiastic about its success but remains cautious about the economic headwinds. Loto Québe will continue to reposition its brand to maintain its successful business.
