SIGA has great year in tough economy
- EFN Staff | June 11, 2015
The Saskatchewan Indian Gaming Authority (SIGA) has announced revenues of $256.5M and a profit of $84.1M for the 2014–2015 fiscal year. This represents an increase of 4.85% over the previous year’s net earnings.
As a non-profit corporation, 100 percent of SIGA’s profits are distributed to its beneficiaries in Saskatchewan. SIGA as a company owned by the First Nations of Saskatchewan, fully reports its financial and operational performance to its shareholders and the public.
Profits generated from SIGA's operations are administered by the Province of Saskatchewan.
- 50% is shared with the First Nations Trust which is distributed to Saskatchewan First Nation communities;
- 25% is shared with regional Community Development Corporations (CDCs) which are situated in the casino locations for local initiatives;
- 25% is shared with the Provincial Government's general revenue fund.
“SIGA has a vision to deliver sustainable net income and employment opportunities to support First Nations economic development in Saskatchewan. This vision comes alive through the SIGA employees who sincerely believe in their work and the difference they are making in their communities. The SIGA Board is motivated to continue their work and are encouraged by the positive impact the organization is having on our people and their communities across Saskatchewan.” said Chief Reginald Bellerose, Board Chair.
“Despite maturing industry conditions, I am pleased to report our fourth straight year of net earnings above $80M.” said Zane Hansen, SIGA President and CEO. “Each year we continue to invest in our people, product and facilities to bring the best possible entertainment experience to our customers. We are very thankful for the patronage we receive from our customers and the commitment and service demonstrated by our employees this past year.”
As one of the largest First Nations organizations in the country, SIGA employs a workforce of 1900 individuals of which 66% are First Nation. Since opening its doors almost 20 years ago, SIGA has generated over $650M dollars in net earnings for their beneficiaries.
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