Patty Imhoff of Greenwood Village was recently appointed to the Colorado Limited Gaming Control Commission. She is a managing partner of American Polycom LLC, a plastic resin distribution company she founded in 1995, and president of Katherine Grace Investments LLC, a real estate development company she started last year.
A Democrat, she served on former Denver Mayor Wellington Webb’s China Advisory Council and on an advisory board for the International Health Program at the University of Colorado. She is a former president of the Easter Seals Colorado Guild, corporate chairwoman for the Children’s Hospital Gala and a former board member of the Children’s Hospital Disabled Sports Program.
Q: What experience did you have with casinos before this appointment, and does that background help or hurt you in this new role?
A: My experience with casinos is limited, precluding any potential conflict with the industry. In my role as the business member of the commission, I am charged with assessing the commercial ramifications of the commission’s decisions. My judgment should be based on business characteristics unclouded by industry bias.
Q: The governor lauded your business acumen when he appointed you to the commission. How are casinos the same or different than other businesses?
A: I certainly appreciate the kind words from the governor, and I am honored to serve our state in this way. While bottom-line and share-value issues are common concerns among businesses, including casinos, what makes a casino distinctive is their level of regulation. Casino applicants submit to a thorough background review of their personal and financial histories, including the sources of all money they plan to invest in an establishment. Licensees are continually monitored for such problems as hidden ownership interests and organized crime.
Q: If gaming is good for the tax base, why not throw open the regulatory gates and allow as much as the market can bear?
A: The regulatory gatekeepers of gaming are the voters of Colorado. To change the location of gaming in Colorado, to increase the betting limits, or to change the types of games allowed would require a change to the (state) constitution through a statewide vote of the people. On this issue, the people have spoken clearly. Seven initiatives to expand gaming to other locales and venues have appeared on ballots since 1992. Each of those has been defeated by at least a 2-to-1 margin.
Q: You’ve done a lot of hands-on philanthropy. Why, as a business leader, do you think it’s important to be involved on such a personal level?
A: I believe that, regardless of resources, everyone has something to give to others. In our case, my husband, Mike, and I have been blessed with numerous opportunities to offer kindness in our community. It is important to both of us, as parents and business leaders, to do what we can to make Colorado a better place for everyone.
