SaskGaming revenue doubles in 2021-22 alongside reopening of casinos
SaskGaming reported a $19.1 million net income in 2021-22, aided by increased revenues from the reopening of provincially operated casinos.
Casinos remained closed for the first quarter of 2021-22, but the rest of the fiscal year saw operations return to more normalized operations.
“We netted $19.1 million which was an increase from 2020-21 where we realized a $13.4 million loss,” said Shanna Schulhauser, spokesperson for SaskGaming. “So really nice to see us sort of heading in that right direction.”
The corporation reported a revenue of $77.8 million for the fiscal year – up from 30.9 million in 2020-21. Expenses also rose last year, at $58.7 million in 2021-22 compared to 44.3 million in 2020-21.
The fiscal year ended on March 31, 2022.
As a result, SaskGaming paid into the government’s General Revenue Fund.
"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."
It did not make a dividend payment to its shareholder, the Crown Investment Corporation, due to the pandemic and temporary closures of casino properties. The Crown corporation owns and operates Casinos Regina and Moose Jaw.
Provincially operated casinos in the province had been forced to close on two different occasions during the pandemic. Those periods were used to carry out renovations,
“We’re about 80 to 85% complete right now,” Schulhauser said. “We’ll eventually move into the show lounge in the start of next year for a couple of months and then be heading over to Moose Jaw to make some renovations there.”
Besides renovations, provincially operated casinos have seen the introduction of more technology in their operations.
The next step is online gaming, a project that is set to receive help from the B.C Lottery Corporation.