SaskGaming is declaring a profit of $65.4 million for the 2015-16 fiscal year. That’s up $15.6 million from 2014, according to its latest annual report.
In the 15-month period ending on March 31, the Crown corporation recorded revenue of $158.2 million, a $30.2 million increase compared to $128 million in 2014.
55 SaskGaming jobs cut as casino revenues flatten
SaskGaming saw declining revenue in 2013
This is the first year that SaskGaming is reporting annual results as of March 31, which is why the latest figures cover a 15-month period. The Saskatchewan government decided last November that Crown corporations’ fiscal years should match the government’s budget cycle, which is April 1 to March 31.
SaskGaming, which owns and operates Casino Regina and Casino Moose Jaw, said it had a total guest count of 4.39 million people in the fiscal year ended March. In 2014, the guest count was 3.54 million.
As for expenses, SaskGaming reported $92.8 million in the 15-month period compared to $78.2 million in the 12 months.
Income before payment to the General Revenue Fund (GRF) was $65.4 million in the 15-month period. In the 12-month period in 2014, the income was $49.8 million.
The payment to the GRF came to $32.7 million, split between the First Nations Trust and the Community Initiatives Fund. A portion of the Community Initiatives Fund goes toward the Clarence Campeau Development Fund, also known as the Métis Development Fund.
The First Nations Trust distributes the funding to all First Nations in the province and requires those funds to be spent on economic, social, recreational facilities and educational development. The money also goes toward justice, senior and youth programs, health initiatives and community infrastructure.
The Community Initiatives Fund is overseen by the Ministry of Parks, Culture and Sports, It provides grants for human development and community vitality.