PEI

Atlantic Lotto posts record profits in 2015-16

The Atlantic Lottery Corporation's annual report, released Tuesday, shows record profits for last year.

Corporation benefitted from strong ticket sales

Ticket sales were the strongest performer for Atlantic Lottery Corporation in 2015-16.

The Atlantic Lottery Corporation's annual report, released Tuesday, shows record profits for last year.

Atlantic Lotto benefitted from strong jackpots, says CEO Brent Scrimshaw. (Submitted)

Profits were up 14.5 per cent. About two thirds of the increased revenue came from increased ticket sales.

"Without question, we also benefited significantly from a stroke of luck that produced very strong jackpots for our national games," said Atlantic Lotto president and CEO Brent Scrimshaw in a news release.

The net profit, which will be distributed to the four Atlantic Provinces, was $431.6 million, up from $376.9 million in 2014-15.

The profits will be split up amongst the provinces this way.

  • Newfoundland and Labrador: $148.5 million
  • New Brunswick: $132.2 million
  • Nova Scotia: $133 million
  • Prince Edward Island: $17.9 million

Sales up across the board

Ticket sales, which make up the largest revenue stream for ALC, were up 12 per cent.

Video lottery terminals also had a very good year for ALC, with sales up 10.1 per cent.

Entertainment centre revenue was up 4.2 per cent.

The total revenue of $1.2 billion for ALC is about $500 for every Atlantic Canadian.

ALC noted for every dollar it earns in revenue, about 36 cents goes back to the governments of the four Atlantic provinces, and 34 cents is returned in prizes. The rest goes to operating expenses and taxes.

Atlantic Lotto's year by the numbers

Thousands of dollars
2015-16 2014-15 Change
Gross ticket sales 732,749 654,290 +78,459
Net video lottery receipts 438,138 397,897 +40,241
Entertainment centre revenues 18,520 17,776 +754
Gross revenue 1,189,407 1,069,953 +119,454
Direct costs 556,588 507,393 +49,195
Gross profit 632,819 562,560 +70,259
Expenses 201,260 185,692 +15,568
Net profit 431,559 376,868 +54,691

 

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