Released on July 4, 2022
Although Casinos Regina and Moose Jaw were temporarily closed for most of the first quarter of 2021-22, this fiscal year marked a return to more normalized operations and a significant improvement in SaskGaming's financial position.
The corporation reported net income of $19.1 million for the year ended March 31, 2022, as detailed in its annual report released today.
"SaskGaming saw steady improvement in 2021-22, as we emerged from the era of pandemic-related restrictions," Minister Responsible for SaskGaming Don Morgan said. "With nearly a full year of operations under its belt, SaskGaming was able to contribute $9.6 million to the province's General Revenue Fund to support the First Nations Trust, Community Initiatives Fund and Clarence Campeau Development Fund."
Similar to 2020-21, SaskGaming did not make a dividend payment to its shareholder, Crown Investments Corporation. This was due to the pandemic and temporary closures of its casino properties.
Giving back to the communities in which it operates is central to SaskGaming's mandate. Through its Community Giving program, the corporation invested $220,900 in organizations, projects and events in 2021-22, with 41 per cent of those dollars assisting Indigenous people and programs.
"After 24 months of uncertainty, it was encouraging to get our casinos re-opened for a second time, all employees recalled to the workplace and guests enjoying the 'Always Entertaining' experience they have come to appreciate," SaskGaming President and CEO Susan Flett said. "Making even greater headway on the renovations at Casino Regina, continuing with technology upgrades on our gaming floors and announcing a historic new partnership to establish an online gaming channel for the province were certainly highlights of 2021-22."
2021-22 Financial Results:
- Revenue: $77.8 million compared to $30.9 million in 2020-21.
- Expenses: $58.7 million compared to $44.3 million in 2020-21.
- Net Income: $19.1 million compared to a net loss of $13.4 million in 2020-21.
- Payment to the General Revenue Fund: $9.6 million compared to $0 in 2020-21.
- Dividend to the Crown Investments Corporation: $0 compared to $0 in 2020-21.
To view a copy of SaskGaming's 2021-22 Annual Report, visit saskgaming.com.
For more information, contact:Taylor Shire
Saskatchewan Gaming Corporation