Atlantic Lottery Corporation Announces Impressive Profit Figures
Atlantic Lottery Corporation recently published its annual report for the previous financial year, showing impressive profit figures.
Atlantic Lottery Corporation (ALC) has issued its latest financial report, showing a promising improvement over the past financial year. Judging by its 2020 financial year figures, ALC recorded an excellent annual performance, despite a challenging year caused by the ongoing global pandemic. Subsequently, ALC is now on track to record a profit at a time when many other competitors are declaring minuses.
The four Canadian Atlantic provinces rely on the Atlantic Lottery Corporation for gaming, online gambling, and lottery. The corporation introduced several new products over the past fiscal year, with good uptake amongst the new and existing players.
Promising Annual Report Figures for ALC
The Atlantic Lottery Corporation’s recently issued annual report figures showcased a noteworthy performance. For New Brunswick, the budget stood at CA$137,635,495, whereas the actual profit figures reached CA$118,596,537. In Newfoundland and Labrador, the profit rose to CA$94,344,157, while the budget was CA$128,378,071. When it comes to Nova Scotia, the allocated budget was CA$139,498,200, whereas the profit figure stood at CA$118,897,046.
Prince Edward Island reported close figures, with almost no difference between the budget and the profit. The provincial budget here was CA$19,833,727, while the profit stood at CA$14,706,039. Some 93 per cent of each lottery dollar went back to the four Atlantic provinces. Additionally, nearly half of the proceeds went to winners, while a third equated to the profit allocated to the provinces. Breaking down the lottery dollar further revealed that the revenue spike also benefited these provinces’ operations, salaries, benefits, retailers, and tax payments.
Over the last financial year, 721 Canadians from the four Atlantic provinces managed to win lottery prizes surpassing CA$10,000. The financial report also showed that this number had grown compared to the previous fiscal year when only 533 major winners hailed from the region. This year, most of the winners were reported in Nova Scotia, whereas Prince Edward Island has the least number of winners – only 45 individuals.
Over the past year, some 308,253 individuals had used the Atlantic Lottery Corporation’s online platform for virtual gaming or by entering physical tickets into 2Chance. The corporation’s digitally-enabled gross gaming revenue grew to CA$12,570 million. The total annual net profit managed to reach CA$34,65 million, whereas the gross gaming revenue stood at CA$63,79 million, indicating fewer prizes paid out to players.