REGINA - The Regina Exhibition Association Ltd. (REAL) has appointed Trent Fraser as their new interim CEO.
Fraser, who has experience in marketing, sales, and special event/project management, has previously worked as a consultant with REAL.
"He understands the different dynamics of all of the things that go on at REAL and with that business side of it," said Jaime Boldt, chair of REAL’s board.
Fraser’s primary goal is to find ways to save costs and improve efficiency at REAL over the next few months. This will help kickstart REAL’s objective of presenting city council with options in 18 months.
One of those options could be the dissolution of the corporation if this turns out to be the most beneficial choice for Regina.
REAL’s increase in their budget ask to the city over the past few years hasn’t gone unnoticed by residents.
In 2025, REAL originally proposed a $12.7 million budget. After further consultation and decisions by city council, their budget was reduced to $11.2 million for this year.
With this increase in ask, Boldt said nothing is off the table for finding creative cost-saving measures and diving deeper into said ideas.
As for their expected $4.2-million deficit in 2025, Boldt wanted to clarify the misconception that REAL has a cash-flow problem.
"Money ebbs and flows in here," she said. "When you buy a concert, you put money out. [We] don't get the tickets until later. So that's where that $4 million cash flow situation comes from."
There is the possibility REAL could come back to city council for more money if unexpected costs occur from infrastructure.
"That's a big risk for us," said Boldt. She noted that Regina is well aware of the items that are at risk of failure.
Boldt believes city council will support REAL if additional money is needed.
Along with finding cost savings, REAL has attended several council town halls to engage with residents.
"We've heard the frustrations [and] we understand the community's concerns," said Boldt.
Even with these concerns, Boldt said the community understands the value of REAL from its recent events.
REAL saw its busiest March in history, with Canada's Farm Show Regina shifting to that month.
Events like the Jelly Roll and Riley Green concerts also sold out, said Boldt.
Looking ahead to future events, Boldt said, "there is another event that will be announced coming up, so we're really excited about that." In total, REAL has over 15 events planned for 2025.
As for their goals, Boldt said they want to have a viable business model laid out by year's end.
Meanwhile, Fraser will serve as the interim CEO until the organization finds a permanent candidate in the summer.
