Simply put, the 2022-23 fiscal year was a good one for the Atlantic Lottery Corporation.
The Maritimes’ gambling authority recently released its annual report for 2022-23, confirming the latest fiscal year was more profitable than 2021-22. Overall, the Atlantic Lottery generated a net profit of $492.2 million, which signified a $54.1 million increase year-over-year.
“Our strong results over the past year suggest we are achieving another important element of our purpose: delighting our players,” said ALC President and CEO Patrick Daigle in the report.
“With illegal gaming sites on the rise over recent years, Atlantic Lottery has evolved our offerings to remain competitive, particularly within the digital sphere. I’m pleased to see that our products are resonating with our players and that they are enjoying Atlantic Lottery games for entertainment.”
Nova Scotia online gambling drove 2022-23 success
The company attributed the rise in profit to strong performances across key sectors, namely Nova Scotia’s online casino product that quietly went live last July. While the iLottery share of profit stayed consistent at 18% in 2022-23, profits still increased by $9.2 million thanks to the addition of an online casino in the Maritimes’ most populated province (about 970,000 people).
As a whole, the iGaming sector performed admirably in 2022-23. Net revenue reached $100.1 million, representing an increase of $23.2 million or 30.2% over the previous year. Online casinos accounted for $36.9 million of the revenue figure, with digital instant games leading the way at $60.1 million. Lastly, iBingo contributed $3.6 million to round out the $100.1 million total.
Much like in Ontario, sports betting numbers remained well behind that of iGaming. However, Atlantic Canada still saw a year-over-year increase of $2.4 million or 16.3% to $17.2 million in FY 2022-23.
Notable revenue figures from other areas include:
- Video lottery terminals – $401.7 million (increase of $60.1 million or 17.8% year-over-year)
- Draw games – $181.6 million (down $600,000 or 0.3% year-over-year)
- Instant games – $79.4 million (decrease of $2.4 million or 2.9% year-over-year)
Gaming profits rose in all four provinces
Notably, each of the four provinces under ALC’s purview improved on their 2021-22 FY results in 2022-23.
Leading the way was the largest maritime region and driving force behind the ALC’s bright year, Nova Scotia. That province produced $160.4 million in profit, making good on last year’s number by $20.2 million (14.1%).
New Brunswick finished a close second, reeling in $153.9 million. This figure is up 10.5% or $14.6 million from last fiscal year.
Despite a much smaller population and still having no land-based casinos, Newfoundland and Labrador fell less than $12 million short of the top spot. “The Rock” earned $148.6 million in profit, besting 2021-22’s total by $13.5 million or 10%.
Unsurprisingly, Prince Edward Island and its population of just over 150,000 finished a distant fourth. However, Canada’s smallest province actually netted the largest year-over-year percentage growth of any ALC jurisdiction. It grew from $23.5 million in FY 2021-22 to $29.3 million in FY 2022-23, PEI’s gaming profits increased by 24.7%.
PEI also found great success at its Red Shores Racetrack and Casino, which achieved $22.1 million in net revenue. This increase of $4.4 million or 25% had much to do with the property operating under normal circumstances, facing minimal-to-no COVID-19 restrictions.
More money, more winners
Thanks to the uptick in profitability across the Eastern Canadian gaming hubs, nearly 900 Atlantic Canadians won a prize of $10,000 or more through Atlantic Lottery products. The exact number of winners, 893, is up by more than 100 from last year’s total of 792.
The breakdown of lotto winners by province went as follows:
- New Brunswick – 358
- Nova Scotia – 284
- Newfoundland and Labrador 193
- Prince Edward Island – 58
In 2022-23, 92 cents of every lottery dollar went back into various Atlantic Canadian programs and services.