Gaming News

Study says Iowa casino will drain S.D. money

LYON COUNTY, Iowa –- As reported by the Argus Leader: "South Dakota residents will spend $55 million a year on gaming and other activities if a casino and resort is built in Lyon County, Iowa, an independent report concludes.

"Almost all of that money will come from the Sioux Falls area. In addition, the state will lose $18 million a year in video lottery revenues, half of which is used for property tax relief, according to the report commissioned by the Flandreau Santee Sioux Tribe.

"The study by KlasRobinson QED, a Minneapolis-based hospitality-consulting firm, will be released Monday by the tribe, but an advance copy was obtained by the Argus Leader.

"The report finds that a Lyon County casino would be good for Iowa. South Dakota residents would generate $13.5 million a year in gaming-related taxes for Iowa, and resident South Dakotans employed by the operation would pay $800,000 to $1.1 million a year in Iowa income taxes.

"A second study is under way to gauge the casino's effect on the tribe's own gaming operation, the Royal River Casino, about 40 miles north of Sioux Falls..."

< Gaming News