Atlantic Lottery profits up to record levels with growth in online, VLTs, lottos | CTV Atlantic News

Atlantic Lottery profits up to record levels with growth in online, VLTs, lottos | CTV Atlantic News

Atlantic Lottery profits have risen for the third straight year to a record-setting $431.6 million, as video lottery sales rebound and online gambling grows in the region.

The agency says in its annual report that profits to the four provinces total $54.7 million more than last year, with sales growth in most areas.

The VLTs have been criticized by some anti-gambling advocates as contributors to gambling addictions. However, the corporation says in a news release that the video lottery network and other terminal games introduced over the past two years contributed to revenue growth of over $40 million this year when compared to the year before.

The corporation says over the next year it plans to replace a number of VLTs, mainly in Nova Scotia, and seven new games will be introduced. Meanwhile, the corporation says online gambling products grew by almost a third from the year before, producing $27.5 million in lottery sales.

The 2015-16 annual report also says the provinces are missing out on millions of dollars in revenues because Atlantic Lottery hasn’t introduced casino-style and poker games, which are currently thriving on websites run by offshore firms.

Record sales on the national game Lotto Max alone accounted for $54.6 million in gross profit, with the number of jackpot events double the number forecasted.

Source: Atlantic Lottery profits up to record levels with growth in online, VLTs, lottos | CTV Atlantic News