Gaming Change Approve By Cripple Creek Residents

On December 18th, 2008, the voters in the mining town of cripple creek gave their permission to the gaming expansion conditions of the Amendment 50. More gaming options like the games of roulette and craps, improve casino operations and bigger betting limits passed in a 267 against 13 votes in the Teller County town of 1,200 residents. Both Cripple Creek officials and voters stated that they believe that the Amendment 50 will mean more visitors to their casinos, more tax profits and job opportunities reeling from the global financial crisis.

Cripple Creek will have the honor of being the first gambling town of Colorado to implement the conditions of the Amendment 50. Before the Amendment 50, casino establishments are required to shut down their operations between 2:00 a.m. and 8:00 a.m. and they can only offer slots, poker and blackjack. The Amendment 50 also blocks the regulators from unilaterally increasing taxes on the casino facilities, placing future casino tax increases on a statewide vote. The gaming referendum is the cause of a Colorado constitutional change approved with 60% of voters just last month.

Colorado voters allowed the three gambling towns to offer gaming again back in 1991. Colorado earned a total of $112 million dollars in tax revenues last years, as Colorado's 43 casino facilities earned a combined total of $816 million dollars in revenues. If the three gambling towns approve it, some studies stated that gaming revenue could improve by $300 million dollars for the first five years in the three towns. Cripple Creek, Black Hawk and Central City will keep 10% of their overall tax revenues, with 12 percent for their respective counties and 78% to the colleges. Casino facilities can now look for an additional 8,000 employees.

Cripple Creek was previously known as Poverty Gulch and was a gold mining town. It is the location of 17 casino establishments. Black Hawk residents, which are the location of 20 casino establishments, will decide on the Amendment 50 on January 2009 while Central City will hold their vote on the issue on February 2009 or March 2009. Central City possess 6 casino establishments.

 

Thursday, April 30 , 2009