Atlantic Lottery Corp. returned more than $400 million in profit for the fourth consecutive year.
That’s according to the corporation’s 2018-19 annual report and financial results.
President and CEO Brent Scrimshaw said Atlantic Lottery generated $422.2 million in operating profits to the four Atlantic provinces, which is $2.8 million over target.
Of the total profits in 2018-19, Atlantic Lottery returned $18.3 million to P.E.I., $136.6 million to Nova Scotia, $135.4 million to Newfoundland and Labrador and $130 million to New Brunswick.
All provinces’ profits surpassed their 2018-19 profit targets except in Nova Scotia where the provincial target was missed by less than one per cent.
The Destination line of Atlantic Lottery, which includes its Video Lottery and Red Shores’ businesses, accounted for $265.2 million of the annual profit, while the retail line of business returned $146.7 million and the iLottery line added the remaining $10.3 million.
The corporation is publicly owned by the four provinces and returns all of its profit to the four governments.