The Casino du Lac-Leamy increased the amount of money it brought in during its 2011-12 fiscal year, posting a revenue growth of 1.9 per cent as it prepares to battle a potential new competitor in Ottawa.
The casino increased the amount of money it took in between April 2011 and March 2012 from $252,700 the year previous to $257,400 during the most recent fiscal year, according to the provincial gaming body’s annual report.
The growth comes as the facility goes through a $47.4-million renovation casino officials that started last October and casino officials hope to see completed by January 2015.
This includes the construction of a “multimedia ribbon” that will project images and advertisements in a circle around the inside of the casino and the renovation of one of the facility’s lounges.
The renovations are designed to make the facility more appealing to young people and help it better compete with online gaming, which has cut into casino profits in past years.
Lac-Leamy is also facing the possibility of a potential new competitor closer to home.
City of Ottawa councillors voted last fall to agree in principle to the idea of having a casino somewhere in the city. The idea, in part, was to keep people who travel across the Ottawa River to gamble in Ottawa.
The provincial body responsible for gambling, the Ontario Lottery and Gaming Corp., will present city council with the location and other details it would prefer for a gaming facility in the city. Councillors will then have the chance to give the proposal a yes-or-no vote.
Lac-Leamy’s increased revenue for the 2011-12 fiscal year placed it third among Quebec’s four casinos, which altogether saw a growth of 1.7 per cent.
However the Quebec provincial gaming body, Loto-Québec, saw its overall profit decrease from $1,335,000 in 2010-11 to $1,285,400 last year.