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Thursday 24th July 2008
Decrease In ALC Profits
In Canada, the Atlantic Lottery Corporation (ALC) has announced profits of $378.5 million for the year, which was down slightly on the previous period’s $382.9 million.
Moncton-based ALC is jointly owned by the four provincial governments of Nova Scotia, Prince Edward Island, New Brunswick and Newfoundland and Labrador. It operates lottery games with all profits returned to the general funds of the four Atlantic provinces.
It announced that gross ticket sales fell four percent to $587.4 million despite the launch of two new games, Twist, an add-on game for Lotto Super 7, and iBingo, an online interactive bingo game that has generated close to ten million dollars in revenues since being introduced.
ALC also revealed that video lottery sales decreased by three percent to $410.8 million due to a reduction in the number of terminals in Newfoundland and Labrador alongside a smoking ban and increased competition in Nova Scotia.
“The past year has been an important one for ALC and marked a turning point for the lottery industry as a whole,” said Michelle Carinci, President and Chief Executive Officer for ALC.
“ALC continues to provide Atlantic Canadians with a safe, regulated and responsible option for the gaming entertainment. We will continue to develop new opportunities as socially responsible gaming innovators for all Atlantic Canadians.”
Source:OnlineCasinoNews
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