SaskGaming Blames Difficult Year For $13.4m Net Loss

The 2020-21 reporting year was marked by “difficulty and adversity,” according to SaskGaming, and was “unlike anything experienced in 25 years of operations.”

Due to the pandemic, the company’s Casinos Regina and Moose Jaw facilities were temporarily shuttered for almost seven months, resulting in net losses of $13.4 million, revenue of $30.9 million compared to $114.1 million in 2019/20, and the temporary layoff of nearly 570 permanent employees.

“Not unlike other industries in our province, SaskGaming was significantly impacted by the pandemic,” said Don Morgan, the Minister responsible for SaskGaming. “While the corporation managed to turn a modest revenue of $30.9m 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.”

SaskGaming would have paid a dividend to its shareholder, Crown Investments Corporation, in a regular operating year. Due to the corporation’s net losses, this payout was cancelled in 2020-21.

Susan Flett, president and CEO of SaskGaming, made the point noted: “This reporting year was unlike anything SaskGaming has experienced in 25 years of operation.

“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.”