Atlantic Lottery has released its Annual Report for the 2023-24 fiscal year, with a 17 percent (CA$24.7 million/US$17.9 million) year-over-year increase in gross gaming revenue, with the ilottery line of the business being one of the big highlights.
“Atlantic Lottery improves Atlantic Canadian communities by returning 100 percent of our profit each year to support vital public services, including health care, infrastructure, and education,” said President and CEO Patrick Daigle. “We are equally committed to supporting our local communities and events, providing regulated games for adult Atlantic Canadians and championing healthy play.”
According to the report, in 2023-24, Atlantic Lottery delivered $487 million to the four Atlantic provinces – New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador – which included $256.5 million from the Destination line of business (video lottery terminals) and $230.5 million from the Retail and iLottery lines of business.
Profit decreased by $5.2 million compared to the previous year, which the crown corporation says was expected due to “ongoing investments in Atlantic Lottery’s operations, people, and future.”
The actual profit represents an increase of $1.6 million above the budgeted profit, Atlantic Lottery said in a statement.
More specifically, Atlantic Lottery returned $161.7 million to Nova Scotia, $151.2 million to New Brunswick, $147.3 million to Newfoundland and Labrador, and $26.8 million to PEI. Per the 2022-23 Annual Report, Atlantic Lottery returned $160.4 million in profit to Nova Scotia, $153.9 million to New Brunswick, $148.6 million to Newfoundland and Labrador, and $29.3 million to Prince Edward Island.
“Our commitment to healthy play is a key differentiator that sets Atlantic Lottery apart from illegal gambling operators,” Daigle said. “Some Atlantic Canadians may not realize that Atlantic Lottery is the only legal provider of online gaming and sports-betting products in our region. 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.”
The launch of Newfoundland and Labrador’s online casino was a key milestone in 2023-24.
