Page 53 - 2009_2010_Annual_Report

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Saskatchewan Indian Gaming Authority
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NOTES TO THE FINANCIAL STATEMENTS
Year Ended March 31, 2010
51
15. RELATED PARTY TRANSACTIONS (CONTINUED)
Significant transactions with related parties throughout the year with comparison to the previous year are as follows:
2010
2009
Other revenue
$
$
76,556
Advertising, promotion and sponsorships
29,600
1,223,754
Building rent and occupancy
5,236,684
5,306,875
Consulting
150
138,284
Other operating expenses
10,210
196,696
Travel and sustenance
13,409
40,145
Indigenous Gaming Regulators Inc. (Note 14)
2,911,824
2,607,128
Other transactions with related parties and amounts due to/from them are described separately in these financial statements and the
notes thereto.
16. SEGMENTED INFORMATION
SIGA operates in three segments – table operations, slot operations and ancillary operations. The following table shows key amounts
by segment.
Elimination of
Slot
Table
Ancillary Intercompany
Total
Total
Operations
Operations
Operations Transactions
2010
2009
Revenues
$ 229,965,350 $ 11,257,259 $ 17,754,217 $ (4,753,926) $ 254,222,900 $ 239,792,864
Less:
Promotional allowance
8,764,401
8,764,401
6,788,185
Cost of sales
6,711,570
6,711,570
6,239,509
Net revenue
221,200,949
11,257,259
11,042,647 (4,753,926)
238,746,929 226,765,170
Expenses
140,221,341
15,012,488
22,514,459 (4,753,926)
172,994,362 154,337,867
Income (loss) before
the following:
$ 80,979,608 $ (3,755,229) $ (11,471,812) $
– $ 65,752,567 $ 72,427,303
Indigenous Gaming Regulators Inc. (Note 14)
2,911,824
2,607,128
Saskatoon Prairieland Park Corporation (Note 14)
2,600,004
2,600,004
Net income before distribution to SLGA (Note 1 & 10)
$ 60,240,739 $ 67,220,171
17. CONTINGENCIES
SIGA enters into contractual arrangements with suppliers of services, products and facilities in the normal course of business.
Contracts are subject to legal interpretation from time to time and disputes do arise. Management plans to account for such dispute
resolutions in the year such disputes are settled, as they cannot be reasonably estimated prior to this time.
In addition, various other claims and lawsuits are pending against SIGA in the ordinary course of business. While it is not possible to
determine the ultimate outcome of such actions at this time, and there exist inherent uncertainties in predicting such outcomes, it
is SIGA’s belief that the ultimate resolution of such actions is not reasonably likely to have a material adverse effect on its financial
position or results of operations.