Killdeer Beach was established in 1928, making it one of Alberta's oldest such resorts. "In 1928 a local recreation centre was founded called Killdeer Beach Resort on the southwest shore."
Killdeer Beach Resort and Elksbeach Campground are the two commercial facilities at the lake. No commercial fisheries exist on the lake, although sport fishery, with the main catches being walleye and northern pike, is very popular in the summer.