SEARCH NEWS:

 

Colorado Casinos Rebound from Drop

COLORADO – As reported by the Denver Post: "Colorado's casinos rebounded from their first-ever annual drop in revenues last year, but the industry's spectacular growth has officially halted.

"The state's 45 mountain casinos posted adjusted gross proceeds - total wagers minus payouts - of $711 million in fiscal 2004, which ended June 30, according to Colorado Division of Gaming statistics. While 2004 revenues were up 0.5 percent from a year earlier, it is a far cry from the 9 percent to 15 percent annual increases the industry experienced through much of the 1990s and early 2000s.

"The industry suffered a slight drop in revenues in fiscal 2003, when business was hurt by the economic recession, wildfires and blizzards. Despite a recovering economy and no major hazards during fiscal 2004, the industry mustered revenue growth of less than $4 million.

"…Still, some casino operators remain optimistic about growth opportunities, pointing to the Central City highway slated to open in November that could drive more gamblers to the struggling gaming town…"

< Gaming News