The Atlantic Lottery Corporation in Canada has announced that they have profits of $378.5 million dollars for the year. Their profits are slightly down from last year's $328.9 million dollars.

ALC is jointly owned by the four provincial governments of Nova Scotia, Prince Edward Island, New Brunswick, Newfoundland and Labrador. They operate lottery games and return all profits to the general funds of the four Atlantic provinces

They have announced that gross ticket sales have fallen four percent to $587.4 million dollars despite the fact that they have just launched two new games, Twist and iBingo.

Their video lottery sales are also down three percent to $410.8 million dollars due to a reduction in the number of terminals in Newfoundland and Labrador along with a smoking ban that was imposed and increased competition in Nova Scotia.

“The past year has been an important one for ALC and marked a turning point for the lottery industry as a whole,” said Michelle Carinci, President and Chief Executive Officer for ALC.

“ALC continues to provide Atlantic Canadians with a safe, regulated and responsible option for the gaming entertainment. We will continue to develop new opportunities as socially responsible gaming innovators for all Atlantic Canadians.”

- 2008-07-24