Released on April 15, 2015SaskGaming released its 2014 Annual Report in the Legislature today, declaring a net income before payment to the General Revenue Fund (GRF) of $49.8 million, up from $41.1 million in 2013.
“SaskGaming’s success in 2014 was a result of sound, strategic management in the face of challenging market conditions,” Minister responsible for SaskGaming Nancy Heppner said. “The corporation delivered a solid performance that provides substantial economic benefit and quality employment to the people of Saskatchewan.”
SaskGaming pays 50 per cent of its net income to the GRF to fulfill the government’s legislated commitment to the First Nations Trust and Community Initiatives Fund (CIF).
In 2014, $24.9 million was divided equally between the First Nations Trust and the CIF. A portion of the funds allocated to the CIF are also provided to the Métis Development Fund (also known as the Clarence Campeau Development Fund).
“I’m very pleased to see that our efforts to manage expenses and increase revenue by providing high-quality guest services has been rewarded with this significant financial contribution to the province,” SaskGaming Chief Financial Officer Tony Coppola said. “The gaming market has matured in Canada so we are especially proud to have outperformed our previous year’s results.”
2014 Financial Highlights:
- Revenue - $128.0 million, up from $127.0 million in 2013;
- Expenses - $78.2 million, down from $85.9 million in 2013;
- Net Income before payment to the GRF - $49.8 million, up from $41.1 million in 2013;
- Payment to the GRF - $24.9 million (split evenly between the First Nations Trust and CIF);
- Payment to CIC - $23.9 million (dividend payment of $19.9 million and equity repayment of $4.0 million), up from $16.4 million dividend payment in 2013.
- Total guest count – 3.54 million, down slightly from 3.603 million in 2013;
- Achieved Guest Satisfaction score of 80.1 per cent;
- Introduced a new Patrol & Shuttle Van at Casino Regina;
- Launched new website to deliver a better online experience for guests;
- SaskGaming provided $538,544 in donations, sponsorships and in-kind support to 93 organizations, projects and events across the province.
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