Loto-Québec exceeded C$3bn in total revenue for the first time in its history, reporting C$3.089bn for the 2025-2026 fiscal year, up 3.2% year-on-year.
The crown corporation’s consolidated net income reached C$1.526bn, an increase of 0.5%, the fourth consecutive year that earnings cleared C$1.5bn. The result sits just below the C$1.6bn peak recorded in 2023. All net income is reinvested into the province, where Loto-Québec operates as a state monopoly. The operator paid out a record C$1.914bn in lottery prizes over the year that ended 31 March 2026, creating 111 new millionaires.
Revenue by segment
Casinos and gaming halls were the largest contributor at C$1.301bn, up 8.3%. Lottery games generated C$995.6m, up 3.6%. Gaming establishments, the category covering video lottery terminals, brought in C$814.5m, down 4.5%. Loto-Québec said it had cut the number of VLT locations while concentrating remaining terminals in venues that meet its operational standards.
Community reinvestment
The corporation directed C$442m to payroll and spent a further C$442m on goods and services from Québec-based suppliers. It paid C$324m in commissions to retail partners. Spending on problem gambling prevention totalled C$36m. Charitable donations and support for non-profit organisations reached C$18m, with a further C$10m allocated to sponsorships for local culture and entertainment.
Digital now carries most play
Online wagering accounted for 81% of Québec players’ activity over the year, according to the annual report. The figure shows how far the operator’s player base has shifted to digital, and it frames the central tension in the results. CEO Jean-François Bergeron positioned the digital channel as central to the operator’s case for tighter control of the online market, including sports betting.
It is essential that Loto-Québec strengthen its position in online gaming, including sports betting, to ensure greater oversight and that the profits generated benefit the people of Québec. We’re promoting a responsible approach, aiming to capture the market rather than stimulate its growth.
Pressure to open the market
The record landed as industry figures pressed Québec to replace its monopoly with a competitive licensing regime modelled on Ontario and Alberta. At SBC Summit Canada 2026 in Toronto, TRM Public Affairs president Troy Ross presented research estimating that Loto-Québec captures around 27% of online gambling activity in the province, leaving 73% with unregulated operators. Ross’s firm put the gap at C$2.3bn in lost gross gaming revenue and C$563.3m in government revenue the province does not collect.
For suppliers and operators watching the province, the channelisation figure is the number that matters. Ontario’s open market reached C$4bn in iGaming revenue in 2025 and Alberta is preparing its own competitive launch this year, giving Québec two domestic templates. The gap also echoes European experience, where the Dutch channelisation rate fell below 50% in the first half of 2025 despite a licensed market. Other state monopolies have held firmer, with Norway’s model remaining secure after its 2025 general election. Bergeron has acknowledged the operator needs to improve its iGaming position as those calls continue.
Infrastructure spending
Capital investment in physical venues continued through the year. Projects included a hotel next to the Casino de Montréal, new gaming halls in Rimouski and Saguenay, and an expansion of the conference centre at the Hôtel-Casino du Lac-Leamy. Bergeron tied the spending to tourism and the wider customer experience.
Net income has held broadly flat against its 2023 peak even as revenue set a record, leaving channelisation the open question for the year ahead. Whether Québec moves toward a licensed iGaming market, and how fast, will decide how much of that 73% online share the monopoly can pull back.
Source: Loto-Québec
