Higher Limits Lead To Larger Gambling Revenues In Colorado

Colorado is one of the state that has been expanding their casino gambling options in the past year. Voters approved liberalized gaming requirements last November, and the state is seeing the benefits of those changes already.

In August, gambling revenue was up over two percent from the same period in 2008. The total revenue generated, according to the Colorado Division of Gaming, was $69.662 million. That was up 2.1% over August of last year.

The July figures were even better than August. In July, casino revenue was $76.162 million. That figure represented a sixteen percent increase over July of 2008. The picture picture, however, indicates a thirty-two percent increase over June. July was the month that the new betting laws went into effect.

Included in those new voter-approved laws is longer hours of operations for Colorado casinos. The casinos are also now allowed to offer higher stakes poker games. With the betting limits and hours of operation expanded, the casinos and the state have benefited greatly.

"There is no doubt in anyone's mind that the law changes have had a direct effect on the total revenue at Colorado casinos," said CGW Casino Gaming analyst Steve Schwartz, "Whether that trend continues or not we will see, but there is a strong chance that the state will continue to increase their revenue figures at least until the end of the year."

Colorado is among a handful of states that has seen their casino gambling revenue increase in August. In most states, however, the effects of the recession are still being felt at casinos. An industry that was once deemed immune to the economic climate around it, has suddenly fallen on hard times although lately the figures indicate a possible turnaraound.

September 19, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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