Large jackpots fuel Atlantic Lottery growth in 2018-19
Atlantic Lottery reported a net profit of CAD$422.2m, up 0.7% year-on-year and ahead of the company’s target of CAD$419.4m for the fiscal year ending 31 March, 2019, thanks to a high level of rollover MaxMillions jackpots.
The company reported CAD$764.8m ($575.7m) in net revenue, up 1.1% on the previous year, thanks to the strong performance of its draw-based, instant win and online games.
These successes offset a 4.2% decline in revenue from video lottery terminals (VLTs) to CAD$420.9m from 6,276 terminals.
The success of draw-based games games, which took in revenue of CAD$175m, CAD$24m above budget, was due mostly to a high number of MaxMillions draws, which occur when a jackpot of at least CAD$50m is not won. The 2018-19 year saw 26 MaxMillions jackpots, up from 14 in 2017-18.
LottoMax, which includes the MaxMillions feature, remained the company’s most popular draw game product, bringing in CAD$65m, an increase from CAD$50m in 2017-18. Lotto 649 brought in CAD$7m, down 4.1% from 2017-18, while Tag brought in CAD 27m, up 17.4%.