Loto-Québec Posts Total Revenues of $3.850 Billion
and Net Income of $1.436 Billion During Fiscal 2007-2008

Montréal, June 19, 2008 – At the end of its fiscal year spanning the period from April 1, 2007 to March 31, 2008, Loto‑Québec reported consolidated revenues of $3.850 billion and net income of $1.456 billion. These results are outlined in the Corporation’s 2007-2008 Annual Report tabled in the National Assembly today by Finance Minister Monique Jérôme-Forget.

Outstanding Accomplishments

Loto-Québec’s 2007-2008 fiscal year was marked by numerous major realizations. These include the implementation of the KPMG report’s recommendations concerning the payment of lottery prizes, the revision of the procedures for the reception and media coverage of winners, the addition of electronic Texas Hold’em poker to the Corporation’s game offerings, and the opening of gaming halls in Trois‑Rivières and Québec City.

In line with its ongoing commitment to ensuring the integrity of its operations, Loto‑Québec undertook the implementation of each of the 35 measures to improve its prize payment processes and procedures recommended by the KPMG consulting firm. In so doing, the Corporation launched an awareness campaign in the media promoting the endorsement of lottery tickets. Loto‑Québec now also obliges sales personnel to return tickets to consumers whether they are winners or not, along with the validation coupon. In addition, specific controls have been introduced for the claiming of prizes. These and the other measures taken are all aimed at further promoting the transparency and security of operations.

Dedicated to accompanying winners as much as possible during their transition period, Loto‑Québec also revised its reception and media coverage practices. While maintaining the principle of public disclosure, the Corporation adopted a waiting period of two weeks before issuing any public communication about winners, in addition to offering them closer follow‑up.

Poker and Gaming Halls

Loto-Québec demonstrated its desire to concentrate and control game offerings through a number of concrete actions taken over the course of the past fiscal year. The introduction of electronic Texas Hold’en poker was one good example. In January, this increasingly popular game was added to enhance the range of games offered at the Corporation’s three casinos. More recently, the game was also made available and well received at Loto‑Québec’s gaming halls.

The gaming halls officially opened their doors in Trois‑Rivières and Québec City at the end of 2007. Equipped with a portion of the video lottery terminals withdrawn from economically fragile districts and zones, the facilities feature a highly controlled and secure environment. Although attendance at the establishments during their first few months of operation hasn’t reached the levels anticipated, the Corporation is confident that the new entertainment concept will find its clientele.

Notable Economic Impact

Loto-Québec’s activities during the year just ended had a markedly positive impact on Québec society. For example, lottery and bingo players won more than $1 billion in prizes, while lottery, video lottery and bingo network partners earned commissions in the order of $377 million. Furthermore, the Corporation purchased $417 million worth of goods and services from suppliers conducting business in Québec, and it paid out $376 million in salaries and benefits to its personnel.

Social and Environmental Commitment

A longstanding partner of major events that entertain the province’s population, Loto‑Québec allocated $14.6 million this past year to the sponsorship of events selected for their ability to attract tourists and generate economic spin‑offs. For its part, La Collection Loto‑Québec acquired 192 distinctive new works, representing an investment of $348,000 in the province’s visual arts milieu.

With respect to sustainable development, the Corporation’s principal realizations involved the management of residual materials, the reduction of water and energy consumption, the ecoresponsible management of events, and the improvement of procurement practices. An effort that has garnered the enthusiastic participation of personnel at all levels of the organization, the sustainable development initiative has given rise to the creation of some 15 different internal committees.

On a related front, BOMA Québec Go Green certification was awarded to three other corporate buildings this past year. In addition, Loto‑Québec earned a number of environmental distinctions from organizations including BOMA QUÉBEC and the Association des gestionnaires de parcs immobiliers institutionnels.

Prevention of Excessive Gaming

Devoted to curbing the problem of excessive gaming, Loto‑Québec’s Fondation Mise sur toi stepped up its initiatives during fiscal 2007-2008, organizing another Responsible Gaming Awareness Week, redesigning its Web site, enhancing its self‑exclusion program, conducting additional training workshops for bar owners, and lending further financial support to community organizations. Similarly, the Corporation contributed $22 million to the Ministry of Health and Social Services and $3 million to the Régie des alcools, des courses et des jeux.

New Governance

In conjunction with the Act Respecting the Governance of State‑Owned Enterprises, Ms. Solange Dugas was named Chairwoman of Loto‑Québec’s Board of Directors in June 2007. Three new members also joined the Board during the past reporting period — Ms. Julie Bernier, Ms. Christiane Jodoin and Ms. Paule Bouchard. In all, the Corporation’s Auditing, Human Resources and Governance and Ethics Committees met on 17 different occasions during the course of 2007.

Financial highlights of the 2007-2008 fiscal year [PDF Format, 8 KB - Help]

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