Manitoba Liquor and Lotteries profit increased by $24.3M over previous year

Manitoba Liquor and Lotteries posted a profit in 2017-18 that was $24.3 million higher than the previous year, the Crown corporation announced Wednesday.

Net income reached $610.4 million in 2017-18

Casinos, video lottery machines and liquor operations all posted profits. (CBC)

Manitoba Liquor and Lotteries posted a profit in 2017-18 that was $24.3 million higher than the previous year, the Crown corporation announced Wednesday.

Net income reached $610.4 million in 2017-18, with a year-over-year growth rate of 4.1 per cent over $586.1 million in  2016/17 — a growth rate nearly double that of the previous year.

It's the second year in a row the Crown corporation has increased revenue.

"The 2017‐18 fiscal year demonstrates what we can achieve when we refocus on core operations, developing new ideas and projects to enhance our main lines of business," said Polly Craik, chair of the board of directors, in a news release.

Casinos, video lottery machines and liquor operations all posted profits. Those profits are then re-invested in health care, education, social services, housing and infrastructure, the corporation says.