Released on July 28, 2008
The Saskatchewan Gaming Corporation (SGC), which operates Casinos Regina and Moose Jaw, continues to ensure a high level of sustainable profitability for Saskatchewan residents by posting a net income of $43.8 million over the 2007-2008 fiscal year.
"The Saskatchewan Gaming Corporation continues to play a vital role in the local and provincial economy," Minister responsible for Saskatchewan Gaming Corporation Bill Hutchinson said. "Its success is great news for our province, particularly as all SGC's profits benefit the people of Saskatchewan."
The Community Initiatives Fund and First Nations Trust Fund each receive 25 per cent of the net profits. These funds support non-profit and economic development organizations and funding for projects in First Nations communities. The remaining 50 per cent of SGC's profits are delivered to the province's General Revenue Fund, available to fund priorities such as roads, hospitals, education and other enhancement projects.
The net income is based on revenues of $128.7 million and expenses of $75.7 million.
"This past year has been outstanding for SGC financially, and we have seen great success toward reaching our goals of being an employer of choice and a leader in our communities," Saskatchewan Gaming Corporation board chair Wes Becker said.
SGC's successes included nominations for Business of the Year from Tourism Saskatchewan and the Tourism Industry Association of Canada. The corporation was also named one of Canada's Top 100 Employers for the first time, and one of Saskatchewan's Top 10 Employers for the second consecutive year.
The total workforce for Casinos Regina and Moose Jaw is 1,050 employees; Aboriginal employees represent 42 per cent of the total workforce.
Copies of the Annual Report are available at Media Services, Room 110, Legislative Building or online at www.casinoregina.com and www.casinomoosejaw.com.
-30-
For more information, contact:
Heather Johnson
Saskatchewan Gaming Corporation
Regina
Phone: 306-787-4023
Email: heather.johnson@sasktel.net
Cell: 306-527-8651