Founded 1989 | ||
Sodak Gaming, Inc. was a gaming company based in Rapid City, South Dakota that distributed slot machines to Indian casinos and financed casino projects. It was acquired by International Game Technology (IGT) in 1999 for $230 million.
Sodak was formed in 1989 to supply equipment to gambling halls in Deadwood, South Dakota, and soon became the exclusive distributor of IGT machines to tribal casinos. The Promus Companies acquired a 20 percent stake in Sodak in November 1992. Sodak made its initial public offering in June 1993.
Sodak purchased and refitted a riverboat and leased it to Gaming Supply Co., who opened it in December 1994 as the Miss Marquette casino, in Marquette, Iowa. After Gaming Supply defaulted on lease payments, Sodak bought out the company for less than $5.5 million, taking over operation of the casino. As regulations forbade IGT from owning a casino, the Miss Marquette was placed on the market before the merger, and sold to Lady Luck Gaming for $42 million.