Gaming revenues in Deadwood have suffered in recent years. The industry peaked in 2012 when it generated $107.4 million. In 2016, revenues were down 8 percent from the peak, posting the lowest numbers since 2007.
The news is not entirely bad in Deadwood. Newer resorts outside of downtown seem to be performing well. This includes a recent renovation and expansion at Cadillac Jack’s.
The downtown area has been affected more by the decline in Deadwood tourism than newer properties have been. These properties tend to be older. Many were built in the late 1800’s or early 1900’s during the city’s mining boom. This seems to have created a buyer’s market as eight casinos in Deadwood are currently listed for sale.
Deadwood Gulch – $6.6 million
Deadwood Gulch is the largest gaming property for sale in Deadwood. It sits on 11.4 acres and includes a full-service restaurant. The casino hosts 131 machines. Unlike the other casinos for sale in Deadwood, Deadwood Gulch owns most of the gaming devices on its floor.
Deadwood Gulch once spread live blackjack. That is no longer the case. However, a new owner could easily bring live table games back. The listing notes that the property is already approved for an expansion that could nearly double the gaming space.
Midnight Star – $3 million
Midnight Star was Kevin Costner’s Deadwood casino. It is the only casino listed for sale in Deadwood that is currently shuttered.
Midnight Star closed at the end of August. It was on the market a few days later. The building has three levels and includes two restaurants. The listing notes that Costner’s memorabilia is not included in the sale. Costner sold 103 acres of undeveloped land in Deadwood last year.
Hickok’s – $5 million
Hickok’s is on Main Street. It offers 22 hotel rooms and a small casino that includes slots, video poker and video table games. There is also an attached smoking lounge.
Hickok’s expanded into the former Cody’s space at one point but later abandoned the neighboring property. That storefront is not a part of this sale as it is now a Harley-Davidson store.
Hickok House/Best Western – $2.4 million
Hickok House is located a few blocks away from downtown near the city hospital. Its hotel is branded as Best Western. The listing for the property gives an incorrect address of 737 Charles St. The listing agent for the property confirmed this error. Hickok House includes a small casino, full-service restaurant and three-bedroom house on the property.
Bodega – $4.4 million
Bodega is a moderate-sized casino in the middle of Main Street. The sale includes a full service restaurant. Its hotel partner is Bullock Hotel, which is also on the market. Bodega was previously a sister property of Gulches of Fun, now known as Comfort Inn/Deadwood Mini-Golf.
Bullock Hotel – $4.4 Million
Bullock Hotel is located across from the Deadwood parking deck on Main Street. It hosts 28 remodeled hotel rooms and a full-service restaurant. There are also dozens of video poker and slot machines. Video blackjack is also spread in the casino.
Deadwood Dick’s – $2.77 million
Deadwood Dick’s is located across from the post office, two blocks off Main Street. The property includes a small casino, hotel and restaurant.
Iron Horse Inn – $1.7 million
The Iron Horse Inn is the least expensive casino for sale in Deadwood. It is located downtown, just off Main Street. It includes a small hotel and restaurant, as well as a gaming floor that was recently merged with the Wooden Nickel casino.
Saloon No. 10 No Longer on Market
Saloon No. 10 may be the best-known casino in Deadwood. Its previous location is where Wild Bill Hickok was shot. The chair he was seated in is on display at the new location.
Saloon No. 10 went on the market for $10.5 million in 2009. After many years on the market, no buyer was ever found. The listing was removed.
Loss of Other Downtown Deadwood Casinos
This decade has seen several casino closures in downtown Deadwood. The former Wild West gaming complex no longer has casinos.
Miss Kitty’s closed in 2013. Bourbon Street shuttered that same year. One of the three storefronts occupied by the shuttered Bourbon Street casino is currently for sale. The Cody’s property, once a casino, is now home to the expanded Deadwood Harley-Davidson store.
(Image credit: MLS #52303 – 677 Main Street)