SIGA Records Over $300M in Revenue
The Saskatchewan Indian Gaming Authority (SIGA) has reported record-breaking profits for the second consecutive year for the 2023-2024 fiscal year. SIGA’s gross revenue reached $346.6 million, with a final distribution of $138.8 million. These figures surpass last year’s record of $303.6 million in gross revenue and $126.8 million in net revenue.
SIGA operates seven casinos and the PlayNow.com site in Saskatchewan, which contributed $19.1 million to the total revenue. President and CEO Zane Hansen attributed the success to the organization’s recovery and growth post-pandemic, enhancing casino properties and expanding their online gaming platform.
Federation of Sovereign Indigenous Nations Chief Bobby Cameron highlighted the reinvestment of profits back into the community. He stated the following, “these profits will be redistributed back to our shareholders and reinvested in Saskatchewan. To date, over $1.5 billion has been paid out by SIGA to our First Nations communities and other beneficiaries.” Additionally, SIGA contributes $2.5 million annually to the provincial First Nations Addictions and Rehabilitation Foundation.
LGS Closes in on $200M in Net Income
The 2023-24 annual report for Lotteries and Gaming Saskatchewan details the corporation’s initial ten months of operation, spanning from June 1, 2023, to March 31, 2024. During this period, LGS achieved a net income of $191.1 million and a net income of $305.1 million prior to GRF payments. The total gross revenue reached $585.6 million, with expenses totaling $295 million.
Established to oversee online gaming, LGS succeeded SaskGaming in this role, which still manages Casino Regina and Casino Moose Jaw. Additionally, LGS took over the province’s Video Lottery Terminal program from the Saskatchewan Liquor and Gaming Authority. Minister Responsible for LGS, Laura Ross, emphasized that the creation of LGS was crucial for the long-term success of Saskatchewan’s gaming industry.
With Lotteries and Gaming Saskatchewan and the Saskatchewan Indian Gaming Authority reporting strong financial performances, Saskatchewan is set to become a key player in Canada’s iGaming sector. Strategic expansions and sustained revenue growth highlight the province’s potential for vibrant and sustainable market development, promising significant economic benefits and community reinvestment.
