SaskGaming Reports Net Loss of $13.4-Million in Fiscal Year 2020-2021

In its annual report, SaskGaming reported a net loss of $13.4-million in fiscal year 2020-21 largely due to the COVID-19 pandemic.

Expenses for 2020-21 totalled $44.3-million while Revenue totalled $30.9-million, both decreases from fiscal 2019-20 when expenses were $73.9-million and revenue was $114-million.

There was no dividend to the Crown Investments Corporation nor payment to the General Revenue Fund because of the net losses.

“Not unlike other industries in our province, SaskGaming was significantly impacted by the pandemic,” Minister Responsible for SaskGaming Don Morgan said in a news release. “While the corporation managed to turn a modest revenue of $30.9 million when the casinos were operating with fewer capacity restrictions, it was not enough to offset expenses and resulted in no payments made to the General Revenue Fund.”

Casinos Regina and Moose Jaw were closed for 7 months which also resulted in the temporary layoff of about 570 permanent employees.

“This reporting year was unlike anything SaskGaming has experienced in 25 years of operation,” SaskGaming President and CEO Susan Flett said in the same news release. “The corporation made many difficult but necessary business decisions as a result of COVID-19, including continuing with renovations at Casino Regina in an effort to support the local construction industry and sub-trades.”

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