Site News: Due to The Pokerbonusexpert Poker Blog’s lack of updates for over a year, SaskGaming’s Canadian Poker News has the pleasure to present their latest update. For the second time in a row, SaskGaming has lost millions of dollars of its annual revenue. This time, it is due to a court order.

A man in his 30s walked into a Casino in Saskatoon and walked away with $1,500,000, after he was able to manipulate the rules of a $20/40 a hand game. This has some people wondering if the rules of the game or the house edge (percentage of the pot taken by the house) were too favorable for him.

An unprecedented situation has hit another gambling company in Canada. Recently, SaskGaming reported its first financial loss of C$13,400,000 for fiscal year 2020-2021 after 25 years of existence. These losses were due to the closure of commercial properties in the county when the company’s casinos ceased operations.

Casino Regina and Casino Moose Jaw, which are owned by the gaming company, are closed for a total of seven months in the 2020-2021 fiscal year. After initially closing in March 2020, the facility was allowed to reopen in July, but it operated at reduced capacity, making it difficult for the company to generate revenue quickly.

Strong decrease of sales

Today, Monday, SaskGaming released its annual financial report for fiscal year 2020-2021. As a result, the Company incurred a loss of C$13,400,000. President and CEO Susan Flett said last year’s results are something the company has never experienced in its 25-year history in the gaming industry.

As a result of the closure of a large number of plants in the province, the company has had to temporarily lay off 570 permanent employees. When the company received approval to reopen the facility in July, only 318 employees at Casino Regina and 69 at Casino Moose Jaw returned to work. In addition, the houses operated with a small number of clients, limited opening hours and a limited supply of food and drink.

Despite a difficult start to the fiscal year, the gaming company improved its results in the second quarter of this year. However, later in December, a second shutdown put the facility out of business again. Since then, the casinos have remained closed until the end of the fiscal year in April. Revenues for the year were C$30.9 million, down significantly from C$114.1 million in the prior year.

Under normal circumstances, a gaming operator contributes 50% of its net revenues to the province’s general revenue fund, with 80% of the remainder going to its holding company, Crown Investments Corporation. However, due to lack of funds, the company did not make payments to these funds, but instead received C$4 million from its holding company.

December completion

In December 2021, provincial authorities called for the closure of all gambling facilities in Saskatchewan to address this unprecedented situation. As a result of the casino closure, 238 union employees and 89 non-union employees at the Regina and Moose Jaw casinos were temporarily laid off, leaving them at home. The original suspension was only for 28 years, but was extended to June of this year due to complications.

Permission to resume work

Recently, Saskatchewan gambling operators received permission from the provincial government to reopen casinos in June. The Saskatchewan Indian Gaming Authority has quickly announced that seven gambling facilities in the province will be closed starting on the 20th. June will resume her activities. Bear Claw Casino and Hotel, Living Sky Casino, Painted Hand Casino, Gold Eagle Casino, Gold Horse Casino, Dakota Dunes Casino Northern Lights Casino are once again welcoming their visitors.

Source: Kuon, Alexander SaskGaming suffers first financial loss in 25 years by COVID-19, CBC, 5. July 2021

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