Saskatchewan Indian Gaming Authority Reports High Revenues
The Saskatchewan Indian Gaming Authority (SIGA) in Canada, has reported impressive annual fiscal revenues for 2011/2012 of $267.2 million, with its overall profit up by 27% to $81.6 million year-on-year.
Some of the factors which positively influenced SIGA's strong financial performance included warmer weather, which served to attract more Canadians to Indian casinos than normal.
In addition, better market conditions also meant that players had more dollars to spend and enjoyed quality casino entertainment at Indian gambling establishments.
SIGA Improved Casino Efficiency
The Saskatchewan Indian Gaming Authority said that it had also focused on improving efficiency in operations and casino facilities. As such, consumer spending had increased due to these investments.
Speaking about the high revenues, the Indian gaming authority's Chief Executive Officer and President , Zane Hansen said: "The improvements to our facilities and our focus on a number of operational enhancements have improved the entertainment experience for our customers and will provide long term sustainable returns for our subsidiaries."
Hansen said that he was pleased to say that this resulted in $81.6 million for 2011-2012, making for the fifth straight year of net earnings above $60 million.
"I want to thank our customers for their continued patronage and thank our employees who do us proud by offering traditional First Nations hospitality which is second to none," he added.
SIGA Returns 100% Profits to Public
One hundred percent of the profits generated by SIGA are distributed among Saskatchewan beneficiaries.
The non profit group, which is owned by the First Nations of Saskatchewan, will donate 50% of its profits to the First Nations Trust (for the benefit of First Nations communities), 25% to regional Community Development Corporations and the final 25% to the government's general revenue fund.
The Acting Board Chair for SIGA, Chief Edward Henderson said that throughout the year, SIGA casinos have supported hundreds of organizations and events.
"By embracing and implementing the teachings of our Elders, we foster philanthropic commitment by giving back to our communities," he said. The important guiding principle is inherent in who we are as a First Nations organization."
Henderson said that that through its 'Sharing Success' initiatives, SIGA would continue to build and enrich communities in the region for everyone's benefit.
"As one of the largest First Nations organizations in the country, with over 1,900 people, SIGA provides employment for over 1,300 First Nations people," he said. "Since opening its doors 16 years ago, SIGA has generated over $600 million for our beneficiaries."
