REGINA – SaskGaming released its 2013 annual report on Monday, declaring a net income before payment to the General Reserve Fund (GRF) of $41.1 million – but that’s down $11.5 million from 2012.
“During its early years, Casino Regina and Moose jaw were new in the market and regularly expected double digit growth,” Minister responsible for SaskGaming Don McMorris said.
“SaskGaming now operates in a mature market, experiencing flattening revenues in recent years and declining revenue in 2013. These trends are broadly reflective of what is happening in the entire gaming industry across Canada. However, SaskGaming remains a strong business with substantial profits that make a positive impact on the province.”
SaskGaming pays 50 per cent of its income to the GRF to fulfill the government’s commitment to the First Nations Trust and Community Initiatives Fund (CIF). For this year, that means $20.5 million to be divided equally between the First Nations Trust and the CIF.
“Getting back to basics has been the focus for SaskGaming throughout 2013, and has been our mantra since an organizational restructure occurred in October,” SaskGaming President and CEO Twyla Meredith said. “SaskGaming has centralized management of our two casinos and has become more efficient in corporate administration. We have also reinforced our commitment to providing an outstanding guest experience, which is truly the foundation of our business.”
In 2013 SaskGaming also laid off 55 employees due to declining revenue.
- ‘Shock and disbelief’ after Manitoba school trustee’s Indigenous comments
- ‘Super lice’ are becoming more resistant to chemical shampoos. What to use instead
- Is home ownership only for the rich now? 80% say yes in new poll
- Invasive strep: ‘Don’t wait’ to seek care, N.S. woman warns on long road to recovery
2013 Financial Highlights:
• Revenue – $127.0 million, down from $137.2 million in 2012.
• Expenses – $85.9 million, up from $84.6 million in 2012.
• Net income before payment to the GRF – $41.1 million, down from $52.6 million in 2012.
• Payment to the GRF – $20.5 million (split evenly between the First Nations Trust and CIF).
• Dividend declared to CIC – $16.4 million (80 per cent of the corporation’s net income after payment to the GRF), down from $20.4 million in 2012.
2013 Operational Highlights:
• Total guest count – 3.603 million, down from 3.625 million in 2012, but still the second highest in the history of the corporation.
• The Players Club Program was revamped in September, adding tier levels and associated benefits and the ability to check point balance online.
• SaskGaming implemented GameSense in May – a world-class responsible gaming program that combines responsible play education with information on the risks associated with gambling.
• In November, Casino Regina and Casino Moose Jaw became the first gambling facilities in Saskatchewan to earn RG Check Accreditation.
• SaskGaming provided $640,071 in donations, sponsorships and in-kind support to 97 organizations across the province.
Comments