Decrease in Gambling Income at Casinos in Deadwood, South Dakota: A 2.7% drop in revenue compared to the same period last year was observed in May.
Deadwood Casinos See Slight Revenue Decline in May 2024
Deadwood, South Dakota's casinos generated a total taxable gambling revenue of $12.3 million in May 2024, according to a report recently released by the South Dakota Department of Revenue. This figure represents a 2.7% decrease compared to the revenue generated in May 2023, which was $13.4 million.
The report indicates that the decline in revenue was primarily due to a reduction in slot machine revenues. The handle for slot machines in May 2024 was $126.9 million, a decrease of 3.9% from the previous year. However, the exact taxable revenue figure for slot machines was not explicitly detailed in the source.
In contrast, table games showed a 12.25% increase in handle compared to May 2023. The revenue breakdown for table games is as follows:
- Blackjack: $3.6 million
- House-banked poker: $2.5 million
- Player-banked poker: $1.6 million
- Craps: $657,870
Blackjack was the most significant game type driving table game revenues, with revenues of around $555,700 in May 2024. Despite the increase in handle, the revenues from table games remained the same at $1.4 million year-on-year.
The report also noted that sports betting handle increased 23.9% to $611,837 in May 2024. Major leagues such as MLB and NBA contributed significantly to this figure, with revenues of $313,135 and $175,551, respectively.
In other news, the South Dakota Gaming Commission fined an unnamed Deadwood casino $5,000 for allowing an excluded gambler onto the betting floor. This action is a clear violation of the commission's regulations and underscores the importance of maintaining a safe and responsible gaming environment.
In summary, Deadwood casinos generated $12.3 million in total taxable revenue in May 2024, with $8.7 million coming from table games and the remainder from slot machines and other gambling categories. The decline in slot revenues was the main reason for the overall revenue decrease, while table game revenues remained the same at $1.4 million year-on-year. The South Dakota Department of Revenue's report on Deadwood casinos' revenues in May 2024 was released, providing a comprehensive overview of the gaming industry in Deadwood, South Dakota.
[1] Source: South Dakota Department of Revenue's report on Deadwood casinos' revenues in May 2024.
- Despite the slight revenue decline in Deadwood casinos in May 2024, the table games sector showed a positive trend, with blackjack generating the highest revenues among them.
- The casino and gambling culture in Las Vegas, a global hub for gamblers, offers a diverse range of casino games, lotteries, and casino personalities, setting gambling trends worldwide.
- The increase in sports betting handle in Deadwood casinos, particularly for major leagues like MLB and NBA, has brought a new dimension to casino gaming, emphasizing the shifting gambling trends.
- To ensure a safe and responsible gambling environment, it is crucial for casinos to adhere to regulations and guidelines, as highlighted by the fine imposed on an unnamed Deadwood casino for allowing an excluded gambler onto the betting floor.
