Total revenue in 2023-24 for LGS was $585.6 million while expenses were $295.0 million, according to a report from the Crown released on Wednesday.
In its first 10 months of operation, Lotteries and Gaming Saskatchewan (LGS) recorded $305.1 million in net income before payments into pools of public money.
Saskatchewan’s newest Crown corporation oversees all casinos, VLTs, online gaming, and lotteries in the province. That net income resulted in a $135.8-million dividend back to the Crown Investments Corporation of Saskatchewan (CIC), with $114 million paid into the general revenue fund, $37.2 million paid out to VLT site contractors, and $5.9 million in grants.
LGS’s total revenue for the 2023-24 fiscal year was $585.6 million (plus $14.5 million for share of associate profits) while expenses were $295.0 million, according to a report from the Crown released on Wednesday.
“Revenue from land-based casinos grew from previous years, while VLT revenue remains consistent,” read the report.
In total, land-based casinos and slot machines brought in 60 per cent of revenue while VLTs accounted for 35 per cent. Online gaming was two per cent of revenue while lotteries brought in one per cent and “other” sources yielded two per cent.
Laura Ross, the minister responsible for LGS, said in a press release the creation of the Crown was “crucial.”
“Following the creation of LGS, all beneficiaries of net gaming and lottery income in Saskatchewan remained unchanged and giving back to Saskatchewan communities through gaming proceeds continued to be the focus,” she said.
Shortly after the Crown came into being on June 1, 2023, Ross said the LGS effectively combined “Lotteries with Gaming … In the past, Lotteries was located within the Ministry of Parks, Culture and Sport.”
Part of the rationale for the new Crown was to better regulate and respond to online gambling and gaming.
Also on Wednesday, as part of a week-long release of annual reports from Crown corporations, SaskWater published its annual report for 2023-24.
The Crown water utility posted a modest profit for the past financial year with $8.7 million in net income, up from $8.6 million the previous year.
“This was led by increased sales volumes of both potable and non-potable water,” according to the annual report.
Also highlighted was SaskWater finishing the year with “a debt to debt and equity ratio of 53.3 per cent, compared to 50.4 per cent in 2022-23 and a long-term target of 60 per cent.”
A big focus of the report was new capital projects to the tune of $87 million, including the Regina Regional Non-potable Water Supply system. That project — featuring 65 kilometres of pipeline between Regina and Belle Plaine — was completed in 2023.
The water utility also highlighted the Saskatoon Southeast Water Supply system, which serves three potash mines and provides irrigation to 20,000 acres of land.
Last year, SaskWater grew its irrigated acres by “3,000 and gained approval to grow that number to 7,700, with a total of 15,000 acres identified for irrigation expansion by 2026-27.”
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