Profits up, expenses down at Saskatchewan casinos

The Crown corporation that operates casinos in Regina and Moose Jaw saw increased profits in 2014.

SaskGamingreleased its annual report Wednesday.

Net income was $49.8 million in 2014,up from $41.1 million in 2013, but still less than the $52.6 million the corporation made in 2012.

Revenues were virtually flat in 2014, increasing by $1 million to $128 million.

However, SaskGamingreduced expenses to $78.2 million, a healthy decline from $85.9 million spent the previous year.

"The gaming market has matured in Canada so we are especially proud to have outperformed our previous year's results," chief financial officer Tony Coppola said in a prepared news release.

Half the profit goes into the province's general revenue fund.

The other half is split between the First Nations Trust and the Community Initiatives Fund, which provides grants to community projects.