Significant improvement for Sask.’s Crown earnings last year

In Crown Investment Corp.’s annual report, released on Thursday, the company reported consolidated net Crown earnings of $578.3 million for the year.

That’s significantly more than the year before when, mostly thanks to lower provincial Crown earnings, it reported just $17.2 million in consolidated net earnings.

Reported earnings from the Crowns between the two years varied by tens of millions of dollars in some cases. The difference for SaskPower was $356.7 million, as it reported a $172.1 million loss in 2022-23.

CIC’s own investments earned $7.1 million for the Crown, a $13.1 million improvement over the $6.2 million loss the year before.

With these earnings, CIC contributed $152 million to the government’s General Revenue Fund in dividends.

Lotteries and Gaming Sask.

The first 10 months appear to have been good for the province’s newest Crown Corporation.

Lotteries and Gaming Saskatchewan was created last year to separate lotteries from the Ministry of Parks, Culture and Sport and into a Crown along with gaming.

In its annual report, out this week, Lotteries and Gaming Saskatchewan showed $585.6 million in gross revenue and expenses of $295 million. It paid out $114 million to the provincial government’s General Revenue Fund and paid $135.8 million in dividends to the Crown Investments Corporation.

The company also gave out nearly 2,500 charitable gaming grants, for a total of $5.9 million.