Cripple Creek Gives Resounding Approval to Amendment 50

On December 18th, 2008, the town of cripple creek in Colorado became the very first gambling town in the state to modify the gaming ante under the provisions of a law passed back in November 2008 during the election. The residents of gaming town of Cripple Creek, which has an overall population of 1,200 decided to permit casino facilities to increased their minimum bets to one hundred dollars as well as include the games of roulette and craps to their gaming line-up to attract more high-roller that are usually headed to Las Vegas or Atlantic City to play.

Amendment 50 also allowed casinos to virtually conduct business the whole day. The Amendment 50 gaming proposal passed in a margin of 267 to thirteen votes by the residents. The mayor of Cripple Creek, Dan Baader stated that everyone is hopeful about the effects of the Amendment 50. The town of Cripple Creek was the very first casino town in Colorado to decide on the gambling expansion. The statewide voters already gave their nod to the proposal on November 4th, 2008, allowing the people living in the former mining towns in the state of Colorado to decide for themselves on whether they want to apply the rules of the new gaming law or not.

The increased of the wagering minimum, which will not be allowed until July 2009, is expected to improve gaming profit and make the three Colorado gaming towns more profitable and attractive to tourists. The schools in the state are also hoping for the additional gaming profit, because they will be given three quarters of the additional profits. But it is still not sure on how the three gaming town will be able to fully benefit from the new rules if the ongoing financial crisis persists throughout 2009.

 

Thursday, April 30 , 2009