SIGA Announces Record-Breaking Profits in 2022-2023 Annual Report

The Saskatchewan Indian Gaming Authority (SIGA) has achieved record-breaking profits in 2022-2023.  

Following the last few years in which SIGA was attempting to recover from the heavy impact of the COVID-19 Pandemic, the year 2022-2023 marked the beginning of a new leaf for this company, enabling them to generate $292.6 million in revenue and a net income of $126 million.  

The results of this year’s financial report have given SIGA much cause for celebration, ensuring a return of revenues to pre-pandemic levels. 

This is particularly significant because this non-profit organization reinvests all of their net revenue back into the Canadian province of Saskatchewan, thus ensuring that their success Is shared with all the members of their community. 

The Results of SIGA’s Financial Report of 2022-2023 

In this section of the article, we will discuss the results of SIGA’s financial report of 2022-2023. Here, we will also compare them to the results that were released in the financial year of 2021-2022. 

Revenue 

In the financial year of 2022-2023, ending March 31st, 2023, SIGA accrued a revenue of $292.6 million. This can be compared to the revenue of 2021-2022 which resulted in $195.8. 

These values result in an increase of 49.4% from the previous financial year.  

Expenses 

With regards to expenses, the financial report of 2022-2023 indicated that a total of $166.6 million was spent. 

In 2021-2022, on the other hand, a total of $127.6 million was spent. 

Net Income 

SIGA’s net income in 2022-2023 resulted in $126.0 million, compared to the financial report of 2021-2022 which indicated a net income of $68.2 million. 

When compared to the previous financial year, SIGA’s net income has nearly doubled in 2022-2023, seeing an increase of 87.7%. 

What is The Saskatchewan Indian Gaming Authority (SIGA)? 

The Saskatchewan Indian Gaming Authority (SIGA) was established back in 1995 as a non-profit organization. 

SIGA’s primary aim is to give back to Saskatchewan and to the various communities in which it operates. By accomplishing this, their goal is to provide various opportunities for First Nation individuals.  

Today, SIGA operates 7 land-based casinos, as well as one online gaming site that was launched during the fiscal year of 2022-2023: PlayNow.com. 

Their land-based casinos include the following: 

• Dakota Dunes Resort & Casino 

• The Northern Lights Casino 

• Gold Eagle Casino 

• Living Sky Casino 

• The Painted Hand Casino 

• The Bear Claw Casino 

• Gold Horse Casino 

In addition to this, during the year 2022-2023, SIGA invested a total of $1.3 million into sponsorships of hundreds of community events, all achieved through its Community Investments Program. 

How SIGA’s net revenue is re-distributed among the community 

• 50% of the net revenue generated by SIGA is distributed to the First Nations Trust. This is then re-distributed to the 74 First Nations that are situated in the province. 

• 25% of the net revenue is distributed to Community Development Corporations (CDCs). The CDCs re-distribute this percentage of SIGA’s revenue back into the initiatives pertaining to local communities.  

• The remaining 25% of SIGA’s net revenue is distributed to the provincial General Revenue Fund. 

A Breakdown of the Revenue Accrued by the 7 Casinos owned by SIGA 

In this section of the article, we will provide you with a breakdown of how the 7 casinos owned by SIGA have performed during the past financial year. 

Dakota Dunes Casino 

• Location: Whitecap Dakota First Nation. 

• This casino achieved the highest net revenue amongst all of the casinos that are owned by SIGA: $43.7 million. 

• In addition to this, this casino set another monthly record for SIGA, accruing $7.6 million in slot revenue during March of 2023.  

• In all, Dakota Dunes Casino paid out a total of 4875 jackpots. These had an accumulative value of $24.9 million. 

Bear Claw Casino 

• Location: White Bear First Nation. 

• As reported in last year’s financial report, this casino achieved a record revenue of ‘just over’ $2 million. 

• With regards to jackpots, Bear Claw Casino paid out a total of $12.3 million. 

Gold Eagle Casino 

• Location: Mosquito First Nation. 

• This casino paid out a total of $19.3 million in jackpots alone. 

• This financial year marked the 27th year of business of Gold Eagle Casino. 

Gold Horse Casino 

• Location: A Little Pine First Nation. 

• In all, this casino paid out a total of $17.7 million in jackpots alone. 

• This financial year marked the fourth year of business of this land-based casino. 

• During this time, Gold Horse Casino achieved a record net income of $5.8 million. 

Living Sky Casino 

• Location: Nekaneet First Nation. 

• With regards to jackpots, a total of $11 million was paid out by this casino.  

• During the financial year of 2022-2023, Living Sky Casino hosted a total of 8 entertainment events. 

Northern Light Casino 

• Location: Peter Ballantyne Cree Nation. 

• In all, a total of $28.4 million was paid out in jackpot winnings by this casino. 

• The annual financial report of Northern Light Casino reported a total net income of $40.6 million. 

• This net income resulted in 48% above their pre-established target. 

Painted Hand Casino 

• Location: Kahkewistahaw First Nation. 

• A total of $7.9 million was paid out in jackpots during the previous financial year of this land-based casino. 

• The net income achieved by this casino during this time was $12.2 million. 

• The overall revenue of Painted Hand Casino was $28.1 million. 

• The net income of this casino resulted in 61% above the pre-established target, whilst the results of their overall revenue resulted in 13% above their target. 

Responsible Gaming (RG) Practices 

When it comes to their land-based and online casinos, one of SIGA’s main goals is to maintain the best responsible gaming (RG) practices.  

In lieu of this, the following casinos that are owned by SIGA have achieved their RG Check Accreditation: 

• Dakota Dunes Casino 

• Northern Lights Casino 

• Living Sky Casino 

• Gold Horse Casino 

This accreditation was awarded to these casinos by the Responsible Gambling Council of Canada. 

The casinos owned by SIGA that have not been included in this list will be undergoing their accreditation process during the financial year of 2023-2024. These include the following land-based casinos: 

• Painted Hand Casino 

• Bear Claw Casino 

• Gold Eagle Casino 

Comments made with regards to this positive annual report 

Bobby Cameron – Chief of the Federation of Sovereign Indigenous Nations (FSIN) 

In light of this celebratory news, Bobby Cameron, the Chief of the Federation of Sovereign Indigenous Nations (FSIN), has made the following comment: 

“SIGA continues to be a major driver in the province, strengthening the lives of First Nation people through employment, economic growth, positive community relations and financial self-reliance.” 

Cameron also commented on the following: 

“We would like to congratulate SIGA, on not only successfully navigating through the pandemic, but on reaching the single largest record-breaking year in its history, with $126 million in net income, which will be redistributed back to our stakeholders and reinvested in Saskatchewan.” 

Zane Hansen – President and CEO of the Saskatchewan Indian Gaming Authority (SIGA) 

In addition to this, Zane Hansen, the President and CEO of SIGA, remarked on the following with regards to SIGA’s timely recovery from the pandemic: 

“This past year was an important time of recovery for SIGA from the pandemic, as we launched Play.Now.com in Saskatchewan and kept a steady focus on Building Back our most critical resources – our markets, our employees, and our finances. SIGA’s efforts were rewarded as a return of revenues to pre-pandemic levels, combined with operational efficiencies, resulted in record-breaking earnings for SIGA.” 

After making these comments, Hansen also said the following regarding the financial year to come and what SIGA is anticipating so far: 

“In 2023-2024, there will be a significant shift in how the province oversees gaming. The launch of Lotteries & Gaming Saskatchewan (LGS) now carries out the managerial oversight of all forms of gaming – replacing roles previously carried out by three separate government ministries. 

“This next year, we also anticipate a dynamic industry environment with elements of change, risk, and opportunity. We finalized a new Strategic Plan with a five-year road map for SIGA. 

“Our business plan for 2023-2024 is structures around pillars that will best position SIGA to meet new challenges and move forward in a new environment. SIGA is now focused on making smart future investments in its employees, casino facilities, marketing, and reinvesting back into the communities where we operate.” 

Additional comments made by Hansen consisted of the following: 

“We had a very, very solid year. We [are] glad to be back in business. It was our first full year actually of operations in four years coming out of the pandemic. 

“It was a difficult time, and everyone went through a lot during that phase, but we’re sure happy to be back and get that first full year under our belts and [getting] people back busy and employed. So overall, it was a very successful year.” 

PlayNow.com - SIGA's Online Gaming Platform

PlayNow.com is operated by SIGA and is the first legal online gambling and sports betting site in the Canadian province of Saskatchewan.  

The financial year 2022-2023 saw the launch of this promising online gambling platform: PlayNow.com was launched on November 3rd, 2022. 

The launch of this online gaming platform marked a historic landmark achievement. This is because, following the establishment of this online casino, SIGA became the first and only company owned by First Nations to have a 50-50 sharing agreement for online gambling revenue in Canada. 

Following its launch, PlayNow.com has acquired over 15,000 users. 

During the first fiscal year of this online casino’s operation, PlayNow.com was very profitable, generating a total of $113 million in online slot wagers and a total of $50 million in slot spins.  

If we were to only take into consideration the first two months of operation of this online gambling platform, consisting of November and December of 2022, then we would see that PlayNow.com generated a total of $31.8 million from wagering alone. 

In this regard, a distinction must be made between the online casino section of their platform, and the sports betting section, with one being considerably more popular than the other: 

• The online casino section of PlayNow.com generated a total of $30.6 million from wagering alone. 

• The sports betting section of this online casino generated a total of $1.6 million in wagers. 

The Saskatchewan Indian Gaming Authority (SIGA)’s plan for the next financial year is to focus heavily on their customer base and to develop it thoroughly using the following methods: 

• Enhancing their marketing capabilities. 

• Establishing more partnerships with other gaming stakeholders that are located in Saskatchewan.