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Home›Tax revenue›Deadwood Casinos Generate $16.6 Million in Tax Revenue | Our Northern Hills

Deadwood Casinos Generate $16.6 Million in Tax Revenue | Our Northern Hills

By Sarah S. Bryant
January 6, 2022
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South Dakota’s Gaming Commission recently released its fiscal year 2021 annual report showing distributions to states, counties, municipal governments and school districts totaling $16,697,166 from gambling taxes. gaming revenue paid by Deadwood’s casino operators.

The state fiscal year was July 1, 2020 through June 30, 2021.

Deadwood Gaming Association executive director Mike Rodman said government agencies depend on revenue generated by casinos.

“That’s 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 fiscal year 2021 was $126,382,116, an increase of 22.96% from fiscal year 2020.

State agencies that have received tax revenue from Deadwood casino operators include $3,778,338 for the South Dakota Department of Tourism, $1,941,320 for the state general fund, $1,226,521 for the South Dakota Gaming Commission, $100,000 for South Dakota Historic Preservation, and $30,000 for the Department of South Dakota. Personal Services.

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County, city and state education agencies that received revenue include $944,584 for Lawrence County, $108,656 for the municipalities of Spearfish, Lead, Whitewood and Central City, and an additional $108,656 for the districts Schools of Lead/Deadwood, Spearfish, Meade and Belle Fourche.

The rest of the cast went primarily to historical preservation and restoration of Deadwood, Rodman said.

“The Deadwood Gaming Association and Deadwood gaming industry employees are proud of the positive financial impacts of Deadwood gaming throughout South Dakota,” he said.

From July 2021 to November 2021, Deadwood Casinos provided over $5.5 million in dollars to agencies. The peak occurred in September, with $1,229,098.02 in taxes owing. August provided $1,187,606.37, July taxes were $1,141,987.99, October paid $1,053,816.13, and November brought in $923,935.23 in tax revenue.

For the 2021 calendar year through November, which differs from the fiscal year, the gambling handle topped over $1.4 billion. That’s a 37.2% increase from 2020, the South Dakota Gaming Commission reported.

In the first 11 calendar months of 2021, slots managed over $1.3 billion, an increase of 36.33% over the same period in 2020. $84.3 million in wagers, a 48.61% gain over 2020.

Deadwood also introduced sports betting in September, adding $1,976,165.75 in handful of gambling since legalization. So far, five casinos offer sports betting, with a long list of Olympic events, professional and college sports.

Some of the sporting events where gambling is legal include boxing, baseball, basketball, mixed martial arts, football, soccer, golf, and auto racing.

Contact Nathan Thompson at [email protected]

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