Deadwood casinos provide $16.6 million in tax revenue
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The South Dakota Commission on Gaming recently released their Fiscal Year 2021 annual report showing distributions to state, county, municipal governments and school districts totaling $16,697,166 from gaming revenue taxes paid by Deadwood casino operators.
The state's fiscal year was July 1, 2020 to June 30, 2021.
Deadwood Gaming Association Executive Director Mike Rodman said the governmental agencies rely on the revenues produced by casinos.
“This is why a healthy gaming industry is vital to the interests of all South Dakotans," he said.
According to the report, total adjusted gross gaming revenue for the 2021 fiscal year was $126,382,116 — an increase of 22.96% from fiscal year 2020.
State agencies that received tax revenue from Deadwood's casino operators include $3,778,338 for the South Dakota Department of Tourism, $1,941,320 to the state's general fund, $1,226,521 for the South Dakota Commission on Gaming, $100,000 to South Dakota Historic Preservation, and $30,000 to the South Dakota Department of Human Services.
County, municipal and public education agencies who received revenue include $944,584 to Lawrence County, $108,656 to the municipalities of Spearfish, Lead, Whitewood and Central City, and another $108,656 to the Lead/Deadwood, Spearfish, Meade and Belle Fourche school districts.
The balance of the distribution went primarily to the historic preservation and restoration in Deadwood, Rodman said.
“The Deadwood Gaming Association and the employees in the Deadwood gaming industry are proud of the positive financial impacts of Deadwood gaming throughout South Dakota,” he said.
From July 2021 to November 2021, Deadwood's casinos have provided more than $5.5 million in tax dollars to the agencies. The peak occurred in September, with $1,229,098.02 in taxes due. August provided $1,187,606.37, July's taxes were $1,141,987.99, October paid out $1,053,816.13, and November had $923,935.23 in tax revenue.
For the 2021 calendar year through November, which differs from the fiscal year, gaming handle topped more than $1.4 billion. That is an increase of 37.2% over 2020, the South Dakota Commission on Gaming reported.
Through the first 11 calendar months of 2021, slot machines handled more than $1.3 billion, a 36.33% increase over the same time period in 2020. Table games have seen nearly $84.3 million in bets made, a 48.61% gain from 2020.
Deadwood also introduced sports wagering in September, adding $1,976,165.75 in gaming handle since legalization. So far, five casinos are offering sports betting, with an extensive list of Olympic events, professional and college-level sports.
Some of the sporting events where gambling is legal include boxing, baseball, basketball, mixed martial arts, football, soccer, golf and auto racing.
