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.
- Download the CTV News app to get local alerts sent to your device
"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.
CTVNews.ca Top Stories
Most of Canada to receive emergency alert test today
The federal government will test its capacity to issue emergency alerts today, with the exception of Ontario, where the test will take place on May 15.
'A huge difference': These adults born in the '90s partnered with their parents to buy homes in Ontario
An Ontario woman said it would have been impossible to buy a house without her mother – an anecdote that animates the fact that over 17 per cent of Canadian homeowners born in the ‘90s own their property with their parents, according to a new report.
OPINION No reunion between Prince Harry and the King signifies a setback for royal unity
Prince Harry, the Duke of Sussex, has made headlines with his recent arrival in the U.K., this time to celebrate all things Invictus. But upon the prince landing in the U.K., we have already had confirmation that King Charles III won't have time to see his youngest son during his brief visit.
Northern Ont. woman makes 'eggstraordinary' find
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
How Drake and Kendrick Lamar's rap beef escalated within weeks
A long-simmering feud between hip-hop superstars Drake and Kendrick Lamar reached a boiling point in recent days as the pair traded increasingly personal insults on a succession of diss tracks. Here’s a quick overview of what’s behind the ongoing beef.
NEW For their protection, immigrants critical of China and India call for speedy passage of Canada's foreign interference legislation
Canadian immigrants threatened by hostile regimes are urging parliamentarians to quickly pass the 'Countering Foreign Interference Act' so they can feel safe living in their adopted home.
Ontario man devastated to learn $150,000 line of credit isn't insured after wife dies
An Ontario man found out that a line of credit he thought was insured actually isn't after his wife of 50 years died.
Spanish prosecutors recommend 2nd investigation into Shakira's taxes be thrown out
Spanish state prosecutors recommended Wednesday that an investigating judge shelve a probe into another alleged case of tax fraud by pop star Shakira.
Stormy Daniels describes meeting Trump during occasionally graphic testimony in hush money trial
With Donald Trump sitting just feet away, Stormy Daniels testified Tuesday at the former president's hush money trial about a sexual encounter the porn actor says they had in 2006 that resulted in her being paid to keep silent during the presidential race 10 years later.