ALC 2019-29 revenue down 5.1% as Covid-19 impacts sales
Canadian lottery operator Atlantic Lottery reported revenue of CAD$725.5m (USD$523.3m), down 5.1%, for the fiscal year ended 31 March, as lower jackpots and the impact of the novel coronavirus (Covid-19) contributed to a decline in revenue and profit.
ALC’s revenue was 5.7% below target for the year, and came on total sales of $1.18bn.
Nova Scotia took over the top spot as the leading province in terms of revenue, despite its contribution declining by 4.6% to $228.8m. This was because revenue from Newfoundland and Labrador declined more sharply, by 8.3% to $227.4m.
Revenue from New Brunswick also declined, by 3.5% to $213.3m, while revenue from Prince Edward Island dipped slightly to $55.9m.
Turning to revenue by product, $402.0m came through video lottery terminals, down 5.5%. However, ALC noted that revenue was up slightly year-on-year until March, when Covid-19 led to a $20m drop in revenue.