Deadwood gaming revenue down
DEADWOOD, S.D. (KOTA TV) – The annual fiscal report from the South Dakota Commission on Gaming is now out. The numbers are down a little from last year.
“We’re down about 6 1/2% from the previous fiscal year and we’re disappointed in that number. We have had some impacts to the economy, all of South Dakota is feeling those impacts and Deadwood felt those, too,” said Mike Rodman, Executive Director of Deadwood Gaming Association.
The last fiscal year Deadwood gaming generated about 98 million dollars. Despite the decrease the industry paid nearly 16 million dollars in taxes.
With the 9% gaming tax in place by South Dakota, these taxes were distributed to both state and local governments.
– State General Fund received $2,901,062
– Tourism Promotion Fund received $3,177,404
– Gaming Commission Fund received $1.3 million
– Lawrence County received $779,351
– Historical Preservation Loan and Grant Fund received $100,000, plus the first $6.8 million. Once this threshold is meet it is distributed to these other grants and funds.
– City of Deadwood received $6,817,771
– Municipalities in Lawrence County excluding Deadwood received $279,125
– School Districts in Lawrence County received $279,125
– DHS-Gambling Addition Treatment and Counseling Program Grant received $5,902
The people we spoke to believe there are numerous reasons for the decrease.
“I think that the biggest impact is the regional economy particularly the AG economy has hurt us,” said Rodman.
“Not only online gambling, there is a lot of places people go with their entertainment dollar and so that’s where we all feel the crunch,” said Lane Gemar, Tin Lizzie Casino Manager.
Rodman hopes that the construction of a Main Street Square will help grow tourism and boost the local economy.
“Even though we’re down about 6 and a half percent, it’s still almost a 100 million dollar business, it’s still a great business. Deadwood still has a very bright future,” said Rodman.