Boost in Online Casino Earnings Sparks Minor Rise in Atlantic Lottery Revenue
In the fiscal year 2024-25, the Atlantic Lottery Corporation (ALC) experienced a modest rise in overall revenue, largely fueled by substantial growth in online casino earnings. According to the recently released annual report, net revenue from iGames surged by 26.2% compared to the previous year, increasing from $126.1 million to $159.2 million.
Key Drivers of Growth
The primary contributors to the rise in iGames revenue were online slots, which saw a remarkable growth of 47.8%, climbing from $67.8 million to $100.2 million. Digital instant games and online table games remained stable, while online bingo noted a decline.
The ALC’s annual report attributes the success to several strategic initiatives:
- Diverse product offerings
- Innovative marketing strategies
- A full year of casino availability in Newfoundland and Labrador
- The launch of over 190 new games on the mobile platform
Competition and Market Share
As a result of these enhancements, Atlantic Lottery’s market share of online betting and gaming in the region rose significantly from 22% in 2023-24 to 34%. Despite many sectors, including retail lottery and sports betting, experiencing declines, the online casino segment proved to be vital in driving overall revenue.
Overall Financial Performance
For the fiscal year, ALC reported total revenue of $890.9 million, marking a 2.1% increase from the previous year’s $872.7 million. Net profits rose by 2.4%, increasing to $498.8 million from $487 million. Notably, profit for the iLottery segment also enjoyed a significant increase of 29%, up $25.9 million year over year.
Provincial Profit Trends
Of the four provinces under ALC’s umbrella, three reported increased profits for the latest fiscal year:
- Nova Scotia: Up 2.1%, from $161.7 million to $165.1 million
- New Brunswick: Up 2.2%, from $151.2 million to $154.6 million
- Newfoundland and Labrador: Up 4%, from $147.3 million to $153.1 million
In contrast, Prince Edward Island saw its profits fall by 3.4%, declining from $26.8 million to $25.9 million.
Commitment to Social Responsibility
Although the overall profit fell short of budgetary expectations by $1.3 million, ALC reported a year-over-year increase of $11.7 million. The organization reaffirms its dedication to social responsibility and promoting responsible gambling practices.
The ALC’s focus on enhancing online casino offerings and ensuring player satisfaction will continue to be crucial as it navigates the competitive landscape of gaming and gambling.
