Murray Wood: Who's scary... and who's scary good?
Every Friday, Murray Wood takes a look at the week's news and decides who's hot... and who's not. This week, in a specia...
Things started getting back to normal for SaskGaming during the 2021-22 fiscal year.
In its annual report issued Monday, the corporation reported a net income of $19.1 million in the fiscal year, up from a loss of $13.4 million in 2020-21.
Casinos Regina and Moose Jaw were closed for most of the first quarter of the 2021-22 fiscal year due to COVID-19 measures, but things turned around after the buildings reopened in June.
“SaskGaming saw steady improvement in 2021-22, as we emerged from the era of pandemic-related restrictions,” Don Morgan, the minister responsible for SaskGaming, said in a media release.
“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.”
SaskGaming reported revenues of $77.8 million, up from $30.9 million in 2020-21 — but still well below the $114.1 million earned in 2019-20.
The corporation’s expenses last year were $58.7 million, up from $44.3 million in 2020-21 as casinos reopened.
The payment to the General Revenue Fund of $9.6 million was up from $0 in 2020-21.
For the second straight year, SaskGaming didn’t make a dividend payment to its shareholder, Crown Investments Corporation. That was due to the pandemic and temporary closures of its casinos.
“After 24 months of uncertainty, it was encouraging to get our casinos reopened 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 in the release.
