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Internet Gambling Study Commences

Posted on December 5th, 2010

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The Saskatchewan Indian Gaming Authority or the SIGA, in partnership with the local government, will begin conducting a complete feasibility study on internet gambling. According to the Party Minister, Ken Cheveldayoff, they will examine the possibilities of involving themselves in the online gambling industry. The Saskatchewan Indian Gaming Authority targets an almost $1 Billion company to be established in Canada. For the CEO of the Saskatchewan Indian Gaming Authority, Zane Hansen, the project is still on the research phase. He called their collaboration with the government a part of an Early Stage Research.

One reason why the SIGA is targeting the online gambling industry is due to its large, virtually untapped revenue. Foreign companies were projected by analysts to have raked in at least $ 5.4 billion in revenue last year—that figure reflecting only players from the US alone. figures were as large as $ 26 billion for worldwide consumers, with only at least a couple thousand sites that offer online betting, sports betting and lotteries.

The Saskatchewan Indian Gaming Authority is a non-profit gaming and casino operator. SIGA is the owner and manager of the well-known First Nations casinos and betting house in Saskatchewan, Canada. Their casinos keep serve 5 million patrons every year. SIGA casinos have a full set of commodities, comprised of almost 50+ live table games and 1800+ slot machines. They also provide food and beverage services including live music and entertainment. According to their site, the First Nations casinos of SIGA are located all across the province. They have a Painted Hand casino located at Yorkton, Dakota Dunes Casino situated at Saskatoon, Gold Eagle Casino that can be found on North Battleford, Bear Claw Casino on the Moose Mountain Provincial Park and the Northern Lights Casino located at Prince Albert.

The minister of the Saskatchewan Gaming Corporation, Party Minister Ken Cheveldayoff, said that the local government, the SIGA and its affiliate organizations have already joined forces. He added that the Federation of Saskatchewan Indian Nations have teamed up with them in order to get accurate and factual information about internet gaming. He added “We’ve had very good discussions about the concept of Internet gaming and it’s still at the conceptual stage. We haven’t talked about funding arrangements or anything like that,” implying that the project is being abstracted and could still be abandoned though the chance of funding it is high. According to him, the partnership between the government, the SIGA and the Federation Of Saskatchewan Indian Nations is functioning at its best. Their deliberations will be done with respect to each organization.

At present, the organizations have agreed that the total revenue of the six First Nations casinos of SIGA will be divided, twenty five percent will be given to the government. Conversely, The First Nations Trust will gain a quarter of the total revenue of the two government operated casinos. Projected revenues for future endeavors in online gambling will be funneled to their supported organizations. These include the Provincial Treasury, Community Development Corporations and the Saskatchewan’s First Nations communities. They also give scholarship to the most deserving citizens. According to Party Minister Ken Cheveldayoff , these contracts binds the Saskatchewan Indian Gaming Authority and the local government after a feud with regards to the regulation of casino gambling in the province during the late 90’s.

SIGA CEO Zane Hansen is reportedly also interested in studying neighboring places that allowed offshore companies to operate an online gambling system in their areas. Lately, Ontario stated that they are going to begin managin and operating a similar project this 2012. For the record, there are only two online gambling companies that have established official operations in Canada, duly licensed by the government—the Atlantic Lottery Corporation and the British Columbia Lottery Corporation.

Zane added that they have set up a good foundation with their partners and he believes everything will work well if they continue to cooperate with each other. Zane and Cheveldayoff are both optimistic about the said idea of online gambling, though only at the conceptual stage. The latter said that issues opposing the idea are slowly being solved, and assured that the province will suffer little to no setbacks.