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Colorado Residents Question Value of Gaming2 January 2001CENTRAL CITY, Colorado— Jan. 2, 2001—As reported by the Associated Press: "After a decade of limited-stakes gaming, some residents now concede that the historic mining town is in no better shape than before the pastime was made legal. "…Of the 39 casinos that have opened here in the past 10 years, 32 are gone and two more are likely to close this month. The closures are the latest chapters in the town's boom-and-bust history. "…Gaming did pay for makeovers for Main Street's turn-of-the-century buildings, but some are returning to their former state of disrepair. "The biggest casualties in the bust include Bullwhackers, the Glory Hole, Gold Coin, and Central City's crown jewel, the Teller House. "Some blame Central City's decline on a 1993 Town Council-approved moratorium on new businesses that they say pushed newer, larger casinos to Black Hawk. Some also say the town's strict historic-preservation codes deter business prospects, and customers often end up in Black Hawk, where parking is more plentiful. "Last year, Black Hawk's 19 casinos took in $394 million in revenues, compared with Central City's $69 million. "Black Hawk's share is expected to grow larger. A $150 million Hyatt casino, complete with a 350-room hotel, is under construction…" |