Loto-Quebec Looks to Continue Growth

As reported by the Montreal Gazette: "While lottery sales account for the bulk of Loto-Quebec's record-breaking $4 billion in gross revenue this year, its key growth areas are now well beyond lottery tickets, the crown corporation's initial business.

"Loto-Quebec's fastest-growing sectors are its multimedia subsidiary Ingenio - which largely exports its products - and two hotel operations, according to its annual report, which notes that the agency - and Quebec taxpayers - now have a stake in 21 French casinos.

"And Loto-Quebec believes that it is 'probably weeks away' from signing another breakthrough deal that would have Ingenio develop, test and supply new slot machine games and concepts for a major slot machine producer.

"…Earlier this year, the agency paid $87 million to buy a 35-per- cent stake in Moliflor Loisirs, France's third-largest casino operator.

"That venture and Ingenio's ongoing development of Internet lottery games - which Loto-Quebec pioneered in North America - represent the agency's recognition that it has to extend its reach if it is to grow…"

2006-06-16