Financial News

After posting record profits for its most recent 2015/16 financial year, Canada’s Atlantic Lottery Corporation (ALC) said that this year will be focused on player-facing improvements as it prepares to overhaul its iLottery offering.

The provincial lottery operator saw gross revenue increase by 11 per cent to a new high of CAD$1.19bn. This helped push net profit up 15 per cent to a record $431.6m, exceeding its target by over $53m, which will all be returned to the Atlantic Provinces.

“Our performance this past year was strong, as we set an all-time profit record, an important milestone as we enter our 40th year,” said ALC president and CEO Brent Scrimshaw. “We were able to counter a challenging economy and increased competition on the strength of a solid strategy, sound execution of our programs and tight cost management.

Premium subscribers continue here to the full article.