Colorado’s casino industry is showing signs of recovering from record losses in 2008, posting a revenue drop of just 1 percent in February compared with the same month a year ago, which had an extra day because of leap year.
The state’s 40 mountain casinos posted revenue of $57.3 million in February, down from $57.9 million, according to date released today by the Division of Gaming.
The relatively flat figure comes on the heels of a small gain in January. The industry’s revenue dropped 12 percent in 2008, a year in which it suffered declines every month.
In February, Black Hawk’s 18 casinos posted adjusted gross proceeds — which is total bets minus payouts — of $41.2 million. Cripple Creek’s 16 casinos had $11 million and Central City’s six casinos had $5.1 million.
Many casinos are on a hiring binge as they prepare for changes authorized under Amendment 50. The measure, approved by voters statewide in November, allows the industry to raise the maximum bet from $5 to $100, add craps and roulette table games and operate 24 hours a day. The changes can take effect in July.
Andy Vuong: 303-954-1209 or avuong@denverpost.com
