South Dakota Casino Revenue Reaches $110.8M in January

South Dakota’s commercial and tribal casinos reported a total handle of $110.8 million in January, reflecting a 1.5% decrease compared to the same period last year, according to the South Dakota Department of Revenue.

Slot Machine Revenue Sees Decline, Table Games Improve

The South Dakota Commission on Gaming oversees 22 commercial casinos and 13 tribal gaming establishments throughout the state. Of the total handle, slot machines generated $103.2 million, representing a 2.3% year-over-year decline. Meanwhile, table games brought in $6.5 million, marking an 8.5% increase compared to the previous year.

Despite the annual performance figures, gaming revenue saw a month-over-month drop across both verticals. In December, slot machines ed for $111 million in wagers, while table games produced $7.2 million, showing a downward trend in player spending. These shifts suggest that while table games have maintained an upward trajectory in revenue over the past year, overall gaming interest may have slightly waned in early 2024.

Retail sports betting in South Dakota experienced a significant boost, with bettors wagering $1 million in January, reflecting an 18% rise compared to the same month in 2023. The NFL remained the most popular sport among gamblers, generating a handle of $478,879. NCAA men’s basketball followed with $246,361 in wagers, while NCAA football attracted $169,886 in bets.

This increase in sports betting activity aligns with the peak of the NFL playoffs, a time when betting interest typically surges. The sustained growth in retail sportsbook performance could indicate a steady demand for sports wagering in the state, despite the limited availability of betting options compared to states with online sports betting markets.

Industry Trends and Market Outlook

The latest figures from South Dakota’s gaming sector suggest that while overall casino revenue saw a slight decline, there are still positive indicators in specific areas. Table games have demonstrated strong year-over-year growth, reflecting increased player interest and engagement. However, slot machine revenue remains a dominant factor in the market, and its decline has had a direct impact on the overall handle.

The steady rise in sports betting is another key takeaway from the report. With retail sportsbooks continuing to see higher betting volumes, there is potential for further expansion if regulations were to permit mobile wagering in the future. South Dakota currently allows only in-person sports betting, which limits accessibility for bettors compared to states with more comprehensive online offerings.

Overall, the gaming industry in South Dakota remains active, with fluctuations in revenue across different gaming verticals. While the state’s casinos saw a slight dip in total handle, the rise in table game revenue and the continued growth of sports betting indicate areas of strength that could influence future policy discussions and market strategies.

Source:

‘’South Dakota Gaming Statistics Monthly Summary’’, dor.sd.gov.