Deadwood gambling revenue increases in latest fiscal year
DEADWOOD, S.D. (AP) — Casinos aren’t the only entities that have profited from a strong year for Deadwood’s gambling industry in South Dakota.
The South Dakota Department of Tourism receives about $3 million in gambling revenue each year. This past fiscal year it received $3.8 million, KELO-TV reported.
“We are so grateful for all that Deadwood does every year. They continue to innovate, do new things, push the boundaries on what’s new because they are always having something new in Deadwood. And what that results in is great numbers, said state tourism spokeswoman Katlyn Svendsen. “They have had fantastic numbers over the last few months. And that means big business for tourism in South Dakota.”
City governments, school districts and the Deadwood Historic Preservation Commission also get some of the revenue. About $17 million in gambling revenue taxes will be distributed this year.
“It’s great that as Deadwood does better, so does the entities throughout South Dakota do better and that’s really the story today. Everybody is doing a little bit better because Deadwood is doing better,” said Mike Rodman, executive director of the Deadwood Gaming Association.
From July of 2020 to June of 2021 Deadwood gambling brought in $126 million in revenue, a 20% increase over the last fiscal year.
Casinos, like Tin Lizzie, are even more excited to see what this next year will bring.
The Deadwood Sports Betting Legalization Amendment was approved by voters in November 2020. The amendment authorized the Legislature to legalize sports betting in Deadwood.
“Adding Sportsbook that just further adds to the value of Deadwood and the community so we are just looking forward to the things coming next year as well,” Josh Thurmes, assistant general manager of Tin Lizzie.