Casino In Cripple Creek, Colorado Files For Bankruptcy Protection

This is not a problem that is only happening in Cripple Creek, Colorado, but the economic crisis has trickled down to the casinos. That has caused many casinos in the country to run for cover.

One of those casinos is the Imperial Casino Hotel in Cripple Creek. The casino has experienced declining revenue figures over the past few months and has now filed for bankruptcy protection. It may not be the only casino in Colorado headed down that road.

The Wild Horse Casino in Cripple Creek has already closed this summer, and several other casinos could be following in those footsteps. The economy has been particularly rough on casinos as of late. Usually gambling survives any financial environment, but that has not been the case this time around.

"This is not the first casino to file for bankruptcy protection and it will not be the last. The economy has turned so bad that even gambling is paying a price. In the past, they have been almost exempt from revenue declines, but this time they are getting hit hard," said financial advisor Fran Blerman.

The Imperial Casino Hotel filed their bankruptcy protection papers on Monday in U.S. bankruptcy court in Denver. When the Wild Horse closed over the summer, sixty two people lost their jobs.

November 19, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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