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Colorado Casinos Earns Less Gaming Revenue from Last Year

The Colorado Division of Gaming stated on July 17th, 2009 that the state of Colorado earned the least amount of tax earnings from the state's casino facilities last year than it has since 2001. Colorado permits limited-stakes gambling in three mountain areas-the towns of Cripple Creek, Black Hawk and Central City-and casino establishments there contributed a total of $94.9 million to the state during the fiscal year ended June 30th, 2009.

That figure is down from $108.17 million in fiscal 2008 and accompanies a 9.3% drop in casino earnings during the same time, to $701.7 million from $773.3 million. Colorado's tax proceeds from gaming have improved steadily, but the figure for the fiscal year 2009 is the lowest since the $88.72 million reported for the fiscal year 2001.

The fiscal year just ended is the 2nd consecutive year the state of Colorado recorded a drop in tax earnings from gaming proceeds. In the fiscal year 2008, taxes dropped to $108.17 million from $112 million the previous year. Each of the gaming towns reported a slowdown in gambling business for the fiscal year 2009 from the previous year.

Business in Cripple Creek, which has 16 casino facilities, was off by 5.1%. Black Hawk's eighteen casino facilities had a 9.6% drop. Central City, with its 6 casino facilities, reported a 14.9% drop.


08/06/2009 21:55 PM
Davis Coulter