Canadian casino operator SaskGaming, owner of Casinos Regina and Moose Jaw, said ‘the 2020-21 reporting year was one of difficulty and adversity’ and ‘unlike anything experienced in 25 years of operation.’
With the two casinos remaining temporarily closed for approximately seven months due to COVID-19, the corporation reported net losses of $13.4m and temporarily laying off approximately 570 permanent employees. Revenue came in at $30.9m compared to $114.1m in 2019 to 20.
“Not unlike other industries in our province, SaskGaming was significantly impacted by the pandemic,” Minister Responsible for SaskGaming Don Morgan said. “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.”
In a normal operating year, SaskGaming would have paid a dividend to its shareholder, Crown Investments Corporation. This payment was cancelled in 2020-21 due to the corporation’s net losses.
“This reporting year was unlike anything SaskGaming has experienced in 25 years of operation,” SaskGaming President and CEO Susan Flett said. “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.”