SaskGaming, the operator of two casinos in the province of Saskatchewan, Casino Regina and Casino Moose Jaw, has published its annual report showing profits of $44.9m. The provincial corporation revealed that net income for the financial period ended March 31 had declined by $0.7m year-on-year.
According to the report, Government-owned SaskGaming welcomed more than 3.2 million guests over the 12 months.
Worryingly for the Saskatchewan Government, the latest results highlight a continued downward trend in revenue from the two provincial casinos since 2014. The slide is blamed largely on a mature Canadian gambling market and a slow local economy.
In the update, Minister Responsible for SaskGaming Christine Tell noted: “SaskGaming is a notable contributor to the overall financial success of our province. Last year, the corporation endowed nearly $430,000 to charitable initiatives, partnered with countless organizations on major events and encouraged employee volunteerism.”
From this year’s net income of $44.9m half will be allocated to the provincial General Revenue Fund (GRF). Of that money, half will be payable to the government’s Community Initiatives Fund with the remainder going to the First Nations Trust.
SaskGaming President and CEO Susan Flett said in the report: “Enriching the gaming experience for our guests is vital to the success of the corporation. In 2018-19, we continued to refine our product offerings, modernize our gaming technology and refresh our properties, all of which helped drive guest satisfaction and revenues.”