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Scarlet's Casino Files for Bankruptcy

8 September 2006

CENTRAL CITY, Colorado – As reported by the Rocky Mountain News: "A Central City casino that had already filed for bankruptcy shut its doors this week after a new parkway to the gaming town failed to bring an expected increase in business.

"Scarlet's Casino had filed for Chapter 11 bankruptcy protection just months after opening at what should have been a prime location at the entrance to the limited-stakes gaming town.

"…'It appears their worst fear that people would drive through to Black Hawk is coming true,' said Don Burmania, a spokesman for the Colorado Division of Gaming, which worked with Scarlet's to shut down its operations on Tuesday morning.

"Burmania said the Central City Parkway, which was completed in Nov. 2004, helped the casino town overcome its location. Many gamblers had been taking route 119 directly to Black Hawk until the faster parkway route was built. In the first year after the parkway's opening, Central City reported big gains in its gaming revenues.

"…The city depends on gambling revenues because much of its budget comes from the fees it charges casinos for each device they operate. Now it must bank on the success of the recently opened gaming establishment developed by Colorado Springs-based Century Casinos Inc…"

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