The Saskatchewan Gaming Corporation was established by The Saskatchewan Gaming Corporation Act (1994) with the mandate to establish and operate casinos in Saskatchewan. According to this Act, the name "Sask Gaming" is the abbreviated form of the name of the Corporation and the abbreviation when used, has the same legal effect and meaning as the full name of the Corporation. While originally a Treasury Board Crown, effective April 1, 2008, Sask Gaming operates under the direction of the Crown Investments Corporation of Saskatchewan (CIC).

CIC is a holding company for Saskatchewan's commercial Crown corporations. CIC's main responsibilities are to establish the strategic direction for the subsidiary crowns through effective governance and performance management, and to enhance the province's long-term economic growth and diversification through Crown corporations.

Sask Gaming is required to make payments to the province's General Revenue Fund sufficient to meet the government's legislated obligations to the First Nations Trust, the Community Initiatives Fund and the Métis Development Fund. Sask Gaming also now pays dividends to the CIC.

Sask Gaming operates Casino Regina and Casino Moose Jaw under the regulatory authority of the Saskatchewan Liquor and Gaming Authority (SLGA). Day-to-day operating practices at the casinos are governed by provincial regulations. Sask Gaming also operates in accordance with statutory provisions under the Criminal Code of Canada and The Alcohol and Gaming Regulations Act, 1997.