NEWS

Montreal casino revenues fall

09/06/2012 07:30 EDT | Updated 11/06/2012 05:12 EST
Loto-Québec's overall profits are up, but its revenues from the Montreal casino fell more than 10 per cent in the Crown corporation's most recent financial quarter.

The provincial government-owned company said Thursday that net profit for the three months ending June 25 fell 7.2 per cent from the same period a year ago, to $304.9 million. Sales dipped nearly five per cent to $842 million.

But that was largely because the quarter was two days shorter than the year-ago quarter. Excluding these days, revenues increased 2.1 per cent.

Loto-Québec attributed the increase to a higher number of large Lotto Max and Lotto 6/49 jackpots.

Casino revenues decreased 6.2 per cent from same quarter in 2011. Revenues from casinos in Lac-Leamy and Mont Tremblant increased by 1.8 per cent and 4.2 per cent respectively, but they fell by 10.2 per cent at the Montreal Casino and 5.2 per cent in Charlevoix.

Loto-Québec attributed the reductions to "random factors" that improved last year's results.

The video lottery sector revenues fell 1.1 per cent while the smaller bingo sector increased 3.9 per cent.

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