SIGA is reporting an annual net loss of $16 million for the 2020-21 year. In a year when there is net income, profits are shared 50 per cent with First Nations Trust, which is distributed to First Nations communities in the province. Twenty-five per cent is shared with regional Community Development Corporations, which are situated in the casino locations and fund local initiatives. The remaining 25 per cent goes to the government’s General Revenue Fund.

Board Chair Chief Reginald Bellerose says, “This past year has been one of the most difficult years for SIGA, our First Nations, families, and communities. The COVID-19 pandemic has had far-reaching impacts across the organization and across the world that will be felt for some time.”

Over the past fiscal year, under Public Health Order, SIGA Casinos were required to close on two separate occasions, totalling more than eight months.

According to the report, The suspension of operations at all seven casinos forced them to make the difficult decision to temporarily reduce the employment structure across the company. Eventually, the decision was made to restructure the operating model. The report says this will have a long-term impact on the employee base, which will be ramped up over time.

Bellerose says, because SIGA’s operations were closed for most of the fiscal year, very difficult decisions had to be made to ensure the preservation of the company. Burt now he says, they must look to the task of rebuilding the company.