The South Dakota Commission on Gaming has recently released their Fiscal Year 2021 annual report showing distributions to state, county, municipal governments and school districts totaling $16.6 million from gaming revenue taxes paid by Deadwood casino operators for the period comprehended between July 1, 2020 to June 30, 2021.
According to the report, total adjusted gross gaming revenue for the 2021 fiscal year was $126.3 million, an increase of 22.96% from fiscal year 2020. State agencies that received tax revenue from Deadwood’s casino operators include $37 million for the South Dakota Department of Tourism, $1.9 to the state’s general fund, $1.2 million 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.
In total, 17 million dollars in gaming revenue taxes paid by Deadwood Casinos are being distributed this year.
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.
Deadwood Gaming Association Executive Director Mike Rodman said the balance of the distribution went primarily to the historic preservation and restoration in Deadwood.
As reported by Rapid City Journal, he 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”.
From July 2021 to November 2021, Deadwood’s casinos have provided more than $5.5 million in tax dollars to the agencies. In September, numbers peaked and reached $1.2 million in taxes due.
August provided $1,18 million, July’s taxes were $1,14 million, October paid out $1 million, and November had $923,935 in tax revenue.
For the 2021 calendar year through November, out of the fiscal year, gaming handle topped more than $1.4 billion. That is an increase of 37.2% over 2020, as reported by the South Dakota Commission on Gaming.
Up to November 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 $1.9 million in gaming handle since legalization. So far, five casinos have been offering sports betting, with an extensive list of Olympic events, professional and college-level sports.
Original article: https://www.yogonet.com/international/news/2022/01/06/60843-deadwood-sees-gross-gaming-revenue-grow-22–to–1263m-in-fy2021
