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Colorado Casinos Boom on Gambling Law Changes
CENTRAL CITY, COLORADO --
Colorado's new relaxed gambling laws went into effect just in time for the holiday weekend, and casinos said business was up as much as twenty-five percent or more. The looser laws allow casinos in Colorado's three legal gaming towns to raise the maximum bet from $5 to $100, stay open all night rather than close, and add craps and roulette to available games.
The Colorado Gaming Association said casinos added another 750 jobs to handle the increased business, and gaming operators say there may be a need for more hires if the boost is sustaining. Officials noted that it will take at least eight months to get a handle on exactly how successful the changes will be.
Still, the beginning was all that casinos and government officials had dreamed.
“I absolutely think the gamble to raise limits and add games has paid off,” Central City Mayor Ron Slinger told the Denver Daily News. “It’s been fantastic.”
Seventy-eight percent of new state revenue created by the changes is earmarked for Colorado's community college system. Projections are that funding could increase by $10 million a year.
Casino operators and gaming observers noted that kinks still have to be worked out. New employees are still mastering the complexity of payouts for roulette and craps, but officials say that is all growing pains, and to be expected.
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| Posted by Scott H. on 08/10/2009 07:17:50 PM EST |
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