MOOSE JAW — The company operating the former Hillcrest Sports Centre has experienced two straight years of operating losses, which city administration attributes to continued investments in upgrading the building.
Lloydminster-based Golden Ticket Sports Inc. has been managing the Golden Ticket Sports Centre since June 2021, and in that time, it has had $588,129.71 in total revenue and $596,629.03 in total expenses, for an overall operating loss of $8,499.32, according to a city council report.
Broken down, the revenues, expenses and profits/losses during the past four years included:
- June 1 to July 31, 2021: $35,942.82 / $34,736.28 / $1,206.54
- Aug. 1, 2021 to July 31, 2022: $201,903.57 / $168,812.24 / $33,091.33
- Aug. 1, 2022 to July 31, 2023: $160,888.32 / $186,480.26 / -$25,591.94
- Aug. 1, 2023 to July 31, 2024: $189,395 / $206,600.25 / -$17,205.25
“There have been some (financial) fluctuations … including losses in the last two years, which would be largely attributed to some of the ongoing investments into the facility upgrades,” Derek Blais, director of community services, told council during the Dec. 16 executive committee meeting.
“But it’s also important to highlight that (Golden Ticket has) invested approximately $484,000 in leasehold improvements into the facility to complement the city-funded upgrades that have occurred in the facility as well,” he continued.
Since 2021, Golden Ticket has spent $484,530.59 on building improvements, with some projects in 2024 including carpet replacement, constructing a second-floor office, lighting upgrades, washroom upgrades and installation of wall mats, the report said.
Furthermore, the city has contributed $1,499,821 to ensure the building remains structurally and mechanically functional and accessible. Some projects it finished this year included phase 2 of 3 of roof replacements, replacing a rooftop HVAC unit and making the front entrance wheelchair accessible.
The parks and recreation branch also has $924,000 in capital projects planned from 2025 to 2029, including the final roof replacement phase (2026), upgrading electrical systems and services (2026), replacing the exterior finishing (2028) and upgrading the fire system (2029), the report said.
Meanwhile, as part of the lease and operating agreement, Golden Ticket must provide Moose Jaw with an annual contribution of five per cent of gross annual revenues — up to $25,000 — to the building’s capital reserve fund.
The council report showed that the company had generated gross revenues of $507,996.49 during the past four years and had contributed $25,399.82 in total reserve contributions.
Golden Ticket also provided updates about its recent programming, such as:
- 78 youths participated in basketball and volleyball camps this summer
- 125 students in grades 7 to 12 are participating in the Golden Ticket Volley Club (GTVC)
- More than 70 students are participating in the high school flex program
- 96 children in grades 4 to 8 are taking part in minor volleyball
- 150 youths in grades 2 to 8 are playing minor basketball
- The venue employed 11 students this summer
This is an important community building because it was only a few years ago when the city was told to stop insuring it and demolish it, said Coun. Patrick Boyle. However, the building has experienced a great turnaround and is now one of the most highly used recreation venues for youths.
Boyle noted that it’s remarkable what the venue has turned into since he was last on council, especially since many youths attend other community-based programming there. Meanwhile, he pointed out that it would likely cost council millions of dollars to construct a similar building.
Coun. Chris Warren also recalled his previous time on council and how they were told that many city-owned assets were deteriorating and required expensive repairs. However, he credited city administration for making the proper investments in recreation-focused venues.
The next executive committee meeting is Monday, Jan. 13, 2025.
