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Colorado Casinos Increase Revenue

COLORADO – As reported by the Denver Post: "Colorado's mountain casinos returned to their winning ways in 2004, with revenue increasing by 4 percent over 2003.

"Gamblers in 2004 lost $725.9 million at the state's 45 mountain casinos, up from $697.8 million in 2003, according to revenue numbers released Wednesday.

"State casinos saw their first decline in their 13-year history in 2003. Revenues in 2002 were $719 million. The recession, wildfires and blizzards hurt casinos in 2003.

"Lois Rice, executive director of the Colorado Gaming Association, attributed the improving revenues to a recovering state economy and 'the normal annual growth the industry is experiencing.'

"…An increased interest in poker and moves by several of the state's largest casinos to expand or relaunch their poker rooms also attracted new gamblers.

"…The 4 percent revenue increase this year, however, is sluggish compared with the 9- to 15-percent annual increases through much of the 1990s and early 2000s.

"…Black Hawk, the state's largest gaming town with 21 licensed operators, in 2004 raked in $514.9 million, up from $505.3 million in 2003.

"…Central City, which for years has lagged behind more prosperous Black Hawk, pulled in $50.6 million last year, up from 2003's $48.9 million…"

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