Atlantic Lottery Corporation, the company that operates lottery games in Atlantic Canada, has recorded decreasing revenue in the 2020-2021 fiscal year, as its earnings took a hit due to the effects of the novel coronavirus pandemic. The Canadian provincial lottery saw its revenue drop by 11.9 percent to 635.6 million dollars.
The corporation operates lotteries in New Brunswick, Nova Scotia, Prince Edward Island, along with Newfoundland and Labrador. This was the second year which saw its revenue affected by the Covid-19 pandemic.
Sean O’Connor, the Chairman of the Atlantic Lottery Corporation , admitted that the pandemic “heavily impacted the financial results” of the company in the financial year that ended on March 31, 2021.
The year started with lockdowns which kept most of the company’s businesses in the hospitality and horse-racing industry shut, while some of its retail locations were closed as well.
“Throughout the year, necessary public health measures were brought in to curb localized outbreaks,” the chairman added, and those measures had a significant impact on every division of the Atlantic Lottery Corporation.
The company’s overall net income was reduced from 395.4 million Canadian dollars in 2019-20 to just 346.5 million in 2020-21. The corporation’s chairman admitted that the figure was well below the company’s “original pre-pandemic plan.”