By Vanese M. Ferguson
Jul 5, 2021 | 1:03 PM
With casinos shuttered through the majority of COVID-19, or operating on a restricted basis, SaskGaming is reporting losses in 2020-21. Casinos Regina and Moose Jaw remained temporarily closed for approximately seven months due to COVID-19. This resulted in the corporation reporting net losses of $13.4 million and temporarily laying off approximately 570 permanent employees.
Minister Responsible for SaskGaming Don Morgan said. “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.”
By Ryan Young
Jul 5, 2021 | 6:49 PM
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.”
SaskGaming reports losses of over $13m due to pandemic challenges 620ckrm.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 620ckrm.com Daily Mail and Mail on Sunday newspapers.