Loto Quebec revenue falls in Q3 as key verticals struggle

first_imgCasino & games 17th February 2020 | By Daniel O’Boyle Email Address Topics: Casino & games Finance Lottery Regions: Canada Quebec AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Tags: Online Gambling Subscribe to the iGaming newsletter Loto Quebec’s revenue fell 11.1% to $685.6m as a lack of larger jackpots slashed lottery revenue, while revenue from other verticals also declined in the quarter ended 31 December, the third of the operator’s fiscal year.Of Loto Quebec’s $685.8m in revenue, $247.8m came from casinos, down 5.0% year-on-year. Gaming establishments (VLTs in bars and bingo halls) brought in $225.6m, down 8.2%, while revenue from lotteries – the largest driver of revenue in Q3 of 2018 – fell 19.5% to $219.2m.Lynne Roiter, president of Loto Quebec, said that the decline in lottery revenue was due mostly to a decline from 2018’s unusually high number of MaxMillions draws, which occur when a jackpot of at least CAD$50m is not won. This lack of large jackpots also led to revenue declines in Q1 and Q2.“On the lottery side, let’s first remember that Lotto Max had offered an exceptionally high number of Maxmillions in 2018-2019,” Roiter said. “The drop in income from this sector was therefore expected.”Read more on iGB North America. Loto Quebec revenue falls in Q3 as key verticals strugglelast_img read more

National Foods Holdings Limited (NTFD.zw) 2009 Annual Report

first_imgNational Foods Holdings Limited (NTFD.zw) listed on the Zimbabwe Stock Exchange under the Agri-industrial sector has released it’s 2009 annual report.For more information about National Foods Holdings Limited (NTFD.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the National Foods Holdings Limited (NTFD.zw) company page on AfricanFinancials.Document: National Foods Holdings Limited (NTFD.zw)  2009 annual report.Company ProfileNational Foods is Zimbabwe’s largest food manufacturer. The company was established in 1920 and produces a broad range of basic foods including maize meal, flour, cooking oil, margarine, rice, salt, snacks, biscuits, pasta, sugar beans, baked beans, popcorn, as well as soap and a full range of animal feed. Recently, a maize based cereal has been added to the National Foods product portfolio. The company’s iconic and home-grown brands Red Seal, Pearlenta, Gloria, Mahatma, Better Buy, ZimGold, National Foods Stockfeeds, Iris, Zapnax, KING and most recently Allegros Popticorn are loved across the length and breadth of Zimbabwe. Gloria and Red Seal have been trusted and esteemed brands in Zimbabwe for almost a 100 years. The company has 2 major shareholders; Innscor Africa Limited 37.73% and Tiger Brands 37.45%. The National Foods Workers Trust, which was established in 1985 by way of a Donation also owns 9.85% of the company. The beneficiaries of the Trust are the National Foods Ltd non-managerial employees. The company is listed on the Zimbabwe Stock Exchange. National Foods has manufacturing sites in Harare, Bulawayo and Mutare from which it distributes its products throughout Zimbabwe. Our people work passionately to add value to the lives of our customers and consumers through our products; striving to continuously improve our existing products as well as progressively adding new categories to our portfolio. National Foods Holdings Limited is listed on the Zimbabwe Stock Exchangelast_img read more