The $61-million Dakota Dunes Casino on the Whitecap Dakota First Nation, just south of Saskatoon, has seen its first winners and losers.

The 7,800-square-metre facility opened with a ribbon-cutting ceremony Thursday night. It features a massive sculpture of buffalo on the outside, plus gaming tables, 620 slot machines and jobs for more than 400 people on the inside.

It's the fifth casino opened by the Saskatchewan Indian Gaming Authority, which last month posted $49 million in profits for the previous fiscal year.

SIGA president Zane Hansen says Dakota Dunes could make as much as $50 million a year.

"It's an evolution in the business model for SIGA," Hansen said Thursday.

Dakota Dunes was originally scheduled to open in the fall, but the 18-month construction project was finished ahead of schedule.

The City of Saskatoon had considered building its own casino downtown, but after years of debate and two plebiscites, the idea was quashed.

Kent Smith-Windsor, with the Saskatoon Chamber of Commerce, said he hopes Dakota Dunes will bring more visitors and business to the city.