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The COVID-19 pandemic took its toll on SaskGaming during the 2020-21 fiscal year.
In the annual report it released Monday, SaskGaming reported net losses of $13.4 million, caused mostly by the COVID-related closures of its casinos in Moose Jaw and Regina.
SaskGaming reported a net profit of $40.2 million in 2019-20.
The company generated $30.9 million in revenue this year, down from $114.1 million in 2019-20. Expenses also fell — to $44.3 million from $73.9 million in 2019-20 — but that wasn’t enough to make up for the loss of revenue.
As a result, SaskGaming’s payment to the province’s General Revenue Fund dropped to $0 compared to $20.1 million in 2019-20, and its dividend to the Crown Investments Corporation fell to $0 compared to $13.3 million in the previous year.
“Not unlike other industries in our province, SaskGaming was significantly impacted by the pandemic,” Minister Responsible for SaskGaming Don Morgan said in a media 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.”
COVID forced the casinos in Regina and Moose Jaw to close on March 16, 2020, only a few weeks before the 2020-21 fiscal year began.
They reopened July 9 with limited guest capacity, scaled-back gaming and food and beverage services, and new health and safety measures. Many live table games resumed in October, but rising COVID case numbers in the province prompted another reduction in guest capacity in November.
On Dec. 19, new public health restrictions forced the casinos to close again. They reopened with limited capacity June 20.