SaskGaming annual report shows more people visiting casinos but spending less money

SaskGaming released their annual financial report on Wednesday and it showsa decrease in revenue and net income, but an increase in guests.

SaskGaming operates Casino Regina and Casino Moose Jaw.

The report is based on a 12-month period ending March 31, 2017.

Highlights from the financial report include:

Revenue:$124.2 million, which is a $3.6-million decrease from 2015-16.

Operating expenses:$75.4 million, which is an increase of $90,000 from 2015-16.

Income (before payment to General Revenue Fund):$48.8 million.

Payment to General Revenue Fund (GRF):$24.4 million, which is a decrease of $2.4 million. GRF payment is based on income amount. GRF payment goes towards the Community Initiatives Fund and First Nations Trust.

Net income:$24.4 million, which is a decrease of $2.4 million from 2015-16.

Dividend declared to Crown Investments Corporation:$29.5 million.

Net income has decreased over the last few years, according to the report, because ofcircumstances within the industry that are out of SaskGaming's control, such as industry maturation, whichis causing guests to spend less per visit.

According to the report, the decline in net income is similar across Canada for the gaming industry.

Less revenue, butmore visitors

Despite the decreasing revenue and net income, SaskGaming is reporting an increase in guests.

There were slightly more than3.5 million reported guests in 2016-17, compared to approximately3.41 million reported guests in 2015-2016.

SaskGaming also launched a new fundraising event, Charity Championship, which raised more than $72,000 for charities in Saskatchewan.

Christine Tell, minister responsible for SaskGaming, remains positive about the report.

"Through sound fiscal management and an unwavering commitment to its core values, SaskGaming continues to be a profitable corporation that delivers an important net benefit to the people of this province," Tell said in a news release.