Loto-Quebec says that his rivalry with the institutions of the Ontario games is one of the reasons why, today, his refusal to provide data on the financial performance of each of its casinos.
“The presence of gambling establishments in close proximity to our casinos, such as the Hard Rock Casino in Ottawa, located a few kilometers from the Casino du Lac-Leamy, is a direct competition to our establishment’, replied in an e-mail the director of public affairs, Patrice Lavoie.
“Any disclosure of privileged information, such as financial performance or goodwill of the casino, thus becomes a sensing element that can be used in the competition,” he continued.
The Hard Rock Casino, located on the site of the Rideau Carleton Raceway south of Ottawa, does not disclose, either, its financial results. It is a project of$ 318 Million, of which the first phase has been completed in 2018.
A study conducted in 2018 by the firm Shore-Tanner & Associates revealed that the opening of this new complex game with our neighbours could result in, for Loto-Québec, a loss of revenue of approximately$ 62 Million per year.
In recent years, the corporation has invested more than $ 50 million to modernize its establishment du Lac-Leamy. The management had indicated last year that she felt already, on the financial level, the impact of the development of the Hard Rock Casino.
Since the beginning of the fiscal year 2019-2020, Loto-Québec unveils more of its revenues by casino and games room. The corporation now prefers to group these data in its financial reports, making it impossible to know the profitability of each establishment.
In addition, you can no longer get these information, which were previously public, a request for access to information. Following a request from the Journal, Loto-Québec responded that the data on its casinos are “commercial in nature, treated in a confidential manner”.
On Tuesday, the former liberal minister of Finance Carlos Leitão, who is now spokesperson of the official opposition in matters of finance, mentioned in an article in the Newspaper that this new way of doing business of the corporation is “unacceptable”.
Loto-Quebec said to comply with its obligations in terms of transparency in the disclosure of information relating to its financial results.