Loto-Quebec bets it’ll reach another $1.5-billion profit this year

The Loto-Quebec headquarters are seen in Montreal, Friday, Oct. 25, 2019. (Ryan Remiorz/The Canadian Press)

Loto-Québec believes it is on track to once again achieve a net profit of around $1.5 billion, to be paid into government coffers, by the end of its current fiscal year.

The Crown corporation posted higher revenues and net income for its third quarter ending Dec. 29. Total revenues topped $765 million, a jump of 4.3 per cent compared to the same period last year. Net income came in at more than $361 million, up 0.2 per cent from a year ago.

Loto-Québec remains on “a growth trajectory,” despite a context where “caution is the order of the day” for household spending, president and CEO Jean-François Bergeron said in an interview.

After three quarters, net profit stands at $1.139 billion, up 0.6 per cent from last year.

“Since coming out of COVID-19, we’ve really seen solid net results. We’ve surpassed the $1.5-billion mark for four years running. It’s stable, with steady growth,” Bergeron said.

He expects Loto-Québec to once again reach $1.5 billion by the end of its fiscal year on March 31.

“We’re going to hit the targets we set for ourselves. With just a few weeks left in our financial year, we’re not worried about our targets,” the CEO said.

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Gaming lounges sector

Bergeron attributes the higher results, despite the more difficult environment, to the diversity of Loto-Québec’s offerings, which span both online and in-person venues, including casinos, lounges and various gaming establishments.

“All of that together means we’re holding our own,” he said.

The casino and gaming lounge segment posted the strongest growth among the corporation’s activities, up more than seven per cent in the third quarter. That segment accounted for nearly a third of Loto-Québec’s revenues as of Dec. 29.

The Crown corporation announced last December the opening of a fourth gaming lounge, to be established within two years at the Delta hotel and convention centre site in Saguenay.

Bergeron believes “there is still room for more gaming lounges in Quebec,” though he doesn’t have a specific number in mind.

“We get an enormous number of requests from municipalities that would like to host a gaming lounge, but we don’t want them everywhere in Quebec. We want to proceed carefully and always maintain balance,” he said.

The corporation favours placing gaming lounges near hotels or convention centres, as in Saguenay and Rimouski, with the aim of enhancing the tourism offering. The goal is to “capture” the gambling market where it already exists, not to grow it, Bergeron noted.

Loto-Québec ensures it has the social acceptance of local stakeholders before opening a gaming lounge.

According to Bergeron, before worrying about the impact of these establishments, people should be more concerned about online products.

“We have several casinos at our fingertips on our mobile phones at any hour of the day, at any moment. We should be more worried about those products than about the impact of a gaming lounge,” he said.

Devices in bars

The opening of gaming lounges is also part of Loto-Québec’s desire to reduce the number of bars where it has lottery terminals.

The organization wants “fewer doors, but better doors” — meaning a preference for venues “that encourage socialization and meet higher quality standards.”

Since 2023, Loto-Québec has reduced the number of establishments by 13 per cent. This rebalancing work is expected to continue in collaboration with bar owners, Bergeron said.

Revenues from terminals in those establishments remained relatively stable when comparing the last three quarters to the same period in 2024-25.

As for the lottery segment, revenues are down. After three quarters, total revenues came in at $721 million, a decline of $11.4 million compared to the same period last year.

“We’re a little below our usual curve (...) because there were fewer draws of $50 million or more,” with major jackpots being associated with higher sales volumes, Bergeron explained.

Loto-Québec notes that this decline was partly offset by “the strong performance” of its online games.

- This report by The Canadian Press was first published in French on Mar. 11, 2026.