Saskatchewan Indian Gaming Authority sees record profits in latest fiscal year

July 10, 2024 7:57 PM
Photo: Courtesy
  • Mark Keast, CDC Gaming Reports
July 10, 2024 7:57 PM
  • Mark Keast, CDC Gaming Reports

It’s been a banner year on the gaming front on the Canadian Prairies, according to the 2023-2024 annual report issued by the Saskatchewan Indian Gaming Authority (SIGA).

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SIGA is reporting a record-breaking profit for the second in a row: CA$346.6 million (US$254.5 million) in gross revenue for its recent fiscal year ending March 31, 2024, with net income of CA$138.8 million (US$101.9 million). In the previous fiscal year, those numbers were CA$303.6 million in revenue and net income of CA$126.8 million.

“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,” said Federation of Sovereign Indigenous Nations Chief Bobby Cameron.

SIGA, which launched in 1996, operates seven casinos in the province and the online-gaming website PlayNow.com, the only legally operated igaming and sports-betting site in Saskatchewan.

Casino net revenue is redistributed, with 50 percent going to the First Nations Trust (distributed to the 74 First Nations in the province), 25 percent to Community Development Corporations (CDCs) that reinvests the money in local community initiatives, and 25 percent to the provincial General Revenue Fund.

“SIGA has successfully built back from the pandemic, achieving record-breaking revenues over the past 24 months, all the while making major strides in enhancing our casino properties and offerings and growing our online gaming platform PlayNow.com in Saskatchewan,” said SIGA President & CEO Zane Hansen.

SIGA employs over 1,500 people. Since its launch, SIGA reports that PlayNow.com has signed up 30,000 clients; 50 percent of their client base comes from rural communities outside Saskatoon and Regina. The site delivered $19.1 million in gaming revenue in 2023-2024.

Several SIGA casinos will soon see expansions. Dakota Dunes is ramping up for a 12,000-square-foot expansion and Northern Lights Casino is planning a 30,000-square-foot expansion, both projects set to begin construction in the 2024-2025 fiscal year.