Officials of the Deadwood Gaming Association estimate that sports betting could provide a 15-percent increase in annual revenue.
DEADWOOD, S.D. — In November, South Dakota voters cast their votes in favor of sports betting in the state. It’s currently legal in 20 states, with six recently passing bills legalizing it, including South Dakota. In Deadwood, the changes go into effect on July 1, 2021.
Officials estimate an annual increase of about $6.8 million in sports betting revenue and an overall gaming jump in revenue of about $22 million.
With the increase, casino owners are also looking to prepare their properties for the new way to gamble.
“As I’ve been talking with some of the operators who are trying to make plans, I think you’ll see some of the properties create sports wagering rooms, not unlike what you see in Las Vegas,” said Mike Rodman, Executive Director of the Deadwood Gaming Association.
Rodman says a survey, which highlighted a 15-percent increase in revenue, will also lead to more than 150 jobs – ensuring that Deadwood is the place to go to wager.
Normally slower times for gaming in Deadwood like March Madness, or the Super Bowl, could see a boost.
“Those are times that Deadwood could use more business and I think that sports wagering is going to give us that opportunity,” Rodman said.
Rodman says that the Deadwood Gaming Association is still in talks with legislators and the South Dakota Commission of Gaming as they navigate through the creation of the gambling rules. He hopes that sports betting will help to keep Deadwood a reputable gaming destination for people to take their bets, both regionally and nationally.
Betting the economy bodes well from the boost.