Atlantic Lottery profits down slightly; $447 million in prizes delivered in 2023
The outside of the Atlantic Lottery Corporation headquarters in Moncton, N.B. (Derek Haggett/CTV Atlantic)
Atlantic Lottery delivered hundreds of millions of dollars to the four Atlantic provinces once again last year, but profits were down slightly.
In its annual report released Wednesday morning, the corporation announced a return of $487 million in 2023/24, which was down $5.2 million from the previous year.
The annual report for 2022/2023 saw a record profit of $492.2 million – an increase of $54.1 million from the year before that.
This year’s report stated the results were anticipated because of ongoing investments in the corporation’s operations.
The profits from this year included $256.5 million from the destination line of business and $230.5 million from the retail and iLottery side of the business.
- $161.7 million returned in Nova Scotia
- $151.2 million returned in New Brunswick
- $147.3 million returned in Newfoundland and Labrador
- $26.8 million returned in Prince Edward Island.
The lottery gave out $447 million in prizes last year, which was an increase of over $7 million from 2022/23.
The report said the corporation continues to operate in an ever-growing competitive environment of gambling websites that are not legally permitted to operate in the Atlantic Canadian provinces.
President and CEO Patrick Daigle said people may not realize Atlantic Lottery is the only legal provider of online gaming and sports-betting products in Atlantic Canada.
“Unfortunately, nearly $200 million leaves Atlantic Canada each year as a result of the illegal gambling market, allowing private operators to profit instead of benefitting our local communities,” said Daigle in a news release.
Atlantic Lottery Corporation president and CEO Patrick Daigle is pictured. (Courtesy: Atlantic Lottery)
The alc.ca platform continued to grow, the report stated, with gross gaming revenue for the iLottery line increasing by 17 per cent over the last fiscal year.
An ever-increasing focus on healthy play initiatives continues to be a priority, which Daigle said sets them apart from illegal gambling operators.
The four Atlantic provinces publicly own the corporation and 100 per cent of its profits are returned to the provincial governments.
Since it was established in 1976, Atlantic Lottery has returned over $10 billion in total profits to the area.
Those profits go toward essential public services such as health care, infrastructure and education.
More to come….
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