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***GambLux EDITOR NEWS*** |
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Casino revenues in Colorado shows signs of hope
[Sunday, March 22, 2009]
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Even if they posted a revenue drop of just 1 percent for the month of February, Colorado's casino industry is showing signs of recovery from a record of losses last year. Compared to the revenue reports last year which had an extra day because it's a leap year, the small revenue drop was already enough to show signs of recuperation.
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According to the Division of Gaming, Colorado's casinos reported a revenue of 57.3 million USD for the month of February, down from 57.9 million USD.
For the same month, Cripple Creek's 16 casinos and Central City's six casinos reported revenues of 11 million USD and 5.1 million USD, respectively. Black Hawk's 18 casinos reported adjusted gross proceeds of 41.2 million USD. This is equivalent to the total bets minus the payouts. The flat figure comes on the heels of a small gain for January. The state's main source of income dropped 12 percent in revenues for 2008, a year where the casinos suffered consecutive declines for several months.
The state is preparing for some changes authorized under Amendment 50 which will take effect in July. The measure was approved in November last year by voters statewide. The measure allows the casino industry to operate 24 hours a day, add craps and roulette table games and increase the maximum bet to 100 USD.
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