BUSINESS

Atlantic Lottery Corp. Profit Hit $369 Million Last Year: Report

07/12/2012 03:36 EDT | Updated 09/11/2012 05:12 EDT
Alamy
MONCTON, N.B. - The Atlantic Lottery Corp. says it generated $369 million in profits in the most recent fiscal year.

The corporation, owned by the four Atlantic provinces, says all of that money was handed over to the provinces to be spent on services, such as health care, education and roads.

In its annual accountability report, the corporation says it paid out $362 million in prizes and $127 million in commissions to retailers.

Atlantic Lottery also supported nearly 60 events last year.

Brent Scrimshaw, the corporation's president, says Atlantic Lottery has implemented new security measures to track wins by lottery insiders, but no details were released.

In March, two reviews found the number of winners with some tie to the Crown company was within a natural range, and that the corporation uses proper controls to mitigate the risk of insider wins.