Loto-Québec to follow suit. The State-owned company freezes salaries of its officers for 2020-2021 and defers the payment of bonuses performance. In addition, the sales of lotteries are falling.
In the beginning of the week, the canadian taxpayers Federation (FCC) had asked Loto-Québec to cancel the wage increases of its high management, in order to remove pressure on the budget of the provincial government in full COVID-19.
It must be said that Hydro-Québec and the Société des alcools du Québec (SAQ) had already decided on the freezing of salaries of its officers and the deferral of the payment of bonuses for executives and non-unionized staff.
Loto-Québec will, however, be a little more far in its measures. The company will extend also to the payment of the variable remuneration linked to the performance of 2019-2020 for the unionized staff eligible for bonuses.
Last year, members of the management team at Loto-Québec had shared$ 5.1 Million and employees had received$ 12.8 M.
Despite the closure of casinos and games rooms, the 5,000 employees at Loto-Québec are still receiving their full salary. The judgment of these activities are currently losing Loto-Quebec of approximately$ 2.5 Million per day.
In recent weeks, the company has delivered more than 30,000 masks to the ministry of Health and social Services. Despite the cancellation of festivals and public events, Loto-Québec has also maintained its sponsorship. This represents approximately$ 10 Million.
Decrease in sales
As to the question of income, in particular due to the suspension of the offer of lotteries in convenience stores, kiosks and supermarkets, Loto-Québec must now juggle a decrease in its sales.
This situation affects all gaming companies across the country. In comparison, last Tuesday, for a draw of$ 44 Million, ticket sales of Lotto Max in Canada amounted to 17.36 M$.
On march 10, before the announcement of the closure of the terminals at Quebec, for a jackpot of$ 40 Million, sales had reached 23,44 M$. It is a difference of about 26%.
“Sales are declining, but there has been an increase in our online sales. It is the only way to buy more of the lottery”, responds to the Newspaper the spokesman of Loto-Québec, Patrice Lavoie.
During its fiscal year 2018-2019, for its fourth quarter, the sales revenue of lotteries at Loto-Québec had been$217 Million.