SaskGaming Casino Report – More People, Less Money
Saskatchewan Gaming Corporation as a Crown corporation owned by the Government of Saskatchewan established in 1996 to set up and operate the Casino business in the region has two casinos under its umbrella – Casino Regina and Casino Moose Jaw.
The organization published its annual financial report this week which showed a significant decrease in revenue and net income compared to the previous 12-month period.
The results are, surprisingly, showing an increase in guests which is in direct negative correlation to the revenue numbers.
Highlight from SaskGaming’s financial report include:
- Revenue:$124.2 million
- Operating expenses:$75.4 million
- Income (before payment to General Revenue Fund):$48.8 million
- Payment to General Revenue Fund (GRF):$24.4 million
- Net income:$24.4 million
- Dividend declared to Crown Investments Corporation:$29.5 million
Casino revenues have gone through a $3.6 million decrease compared to the reports from 2015/16, whereas the operating costs have registered an increase in excess of $90,000. The GRF payment, based on income amount, registered a $2.4 million decrease, same as the net income.
SaskGaming justifies the net income decrease over the last couple of years through circumstances within the industry which are said to be out of the operator’s control such as industry maturation, ultimately resulting in visitors spending less per visit.
According to the SaskGaming’s report, the overall decline in net income is similar across the country.
Increase in Number of Guests
A surprising statistical piece of information, however, deals with an increase in guests despite the net decrease. Over the past 12 months, there were slightly more than 3.5 million reported guests, compared to nearly 3.41 a year earlier.
Despite the overall diverse numbers in the latest report, the minister responsible for SaskGaming, Christine Tell, remains upbeat.
“Through sound fiscal management and an unwavering commitment to its core values, SaskGaming continues to be a profitable corporation that delivers an important net benefit to the people of this province,” Tell said in a news release.