SASKATOON — The Saskatchewan Indian Gaming Association achieved record-breaking revenues during the 2022-2023 fiscal year, garnering praise from Federation of Sovereign Indigenous Nations Chief Bobby Cameron.
The non-profit corporation reported an impressive $292.6 million in revenues, resulting in a net income of $126 million.
Cameron said SIGA emphasizes the corporation's commitment to reinvesting all net revenue into Saskatchewan and distributing it among the 74 member nations of FSIN.
"SIGA continues to play a vital role in the province, empowering First Nation communities through employment opportunities, economic growth, positive community relations, and financial self-reliance," said Cameron.
SIGA follows a transparent revenue allocation model, where 50 per cent of its casino net revenues are redistributed to the 74 First Nations in Saskatchewan via the First Nations Trust.
An additional 25 per cent is reinvested into local community initiatives through the Community Development Corporations, while the remaining 25 per cent is contributed to the provincial General Fund.
SIGA President and Chief Executive Officer Zane Hansen credited introducing a digital platform in 2022 for aiding the industry's recovery from the impact of the COVID-19 pandemic, which forced the shutdown of gaming operations in early 2020.
"Last year marked a critical period of recovery for SIGA post-pandemic, as we launched PlayNow.com in Saskatchewan and focused on rebuilding our essential resources: our markets, our employees, and our finances," Hansen said.
The efforts bore fruit, as SIGA's revenues soared to $292.6 million, nearly doubling its net income from the previous year, which had stood at $68.2 million. At the same time, the corporation managed to reduce expenses from $166.6 million to $127.6 million.
SIGA's commitment to responsible gaming is underscored by its national certification through the RG Check Program. Additionally, the corporation contributes $2.25 million annually to the provincial First Nations Addictions and Rehabilitation Foundation, and for the upcoming 2023-2024 budget, they have raised $2.5 million.
The remarkable financial success achieved by SIGA demonstrates not only the resilience of the gaming industry but also its dedication to supporting Indigenous communities and fostering economic growth in Saskatchewan.
