This week, SaskGaming released its financial report for the financial year 2021-2022. Meanwhile, Crown Corp has seen a tremendous recovery from the previous year, generating more than C$19.1 million in net profit. 릴게임사이트 The improvement in financial results can be explained by the reopening of provincial-run casinos in the summer of 2021.
Like other provincial and gaming sectors in Canada, casino operations in Saskatchewan have been affected by the emergence of unprecedented conditions. The provincial-run casinos were closed during the first quarter of the 2021-2022 financial year, and were almost fully functional for the rest of the fiscal year after which they contributed to the local economy again.
Shanna Schulhauser, a spokeswoman for SaskGaming, said the Crown Agency generated a net revenue of C$19.1 million for the 2021-2022 financial year. This is a sharp increase from 2020-2021, when the company reported a loss of C$13.4 million. In other words, the latest financial statistics are a step in the right direction for state agencies to take the path to recovery.
Crown Corporation reported revenue of C$77.8 million in its latest report, up from C$30.9 million last year. In 2020-2021, costs were significantly lower and amounted to approximately C$44.3 million, while costs increased in the fiscal year.
Due to the closure of casino buildings during some periods of 2020-2021 and 2021-2022, the state informed that it had damaged gaming grants in 2021. For example, the state distributed more than C$2.7 million in gaming grants between April 1 and June 2019. However, that amount fell sharply to only C$900,000 during the same period in 2021.
Secretary SaskGaming Don Morgan said the Crown Agency has seen a steady improvement in financial figures for 2021-2022 as the province has just emerged from unprecedented conditions and health restrictions. He says the casino has been fully operational for nearly a year, providing C$9.6 million to the local general revenue fund.
Besides this, Mr. Schulhauser shared that Crown used casino closures to carry out some renovations in Casino Regina and Moose Jaw, which are now about 80 to 85 percent complete. She explained that the company will focus on the show lounge for at least the first month of next year, and then Moose Jaw will also carry out renovations.
Meanwhile, Saskatchewan is also working to introduce the first ever regulated online sports iGaming and online sports betting platforms. And last month, the Saskatchewan Indian Gaming Authority announced it had chosen a British Columbia Lottery company to help develop a new platform. The new proposal will be finalized and offered this fall.