Colorado casinos took the second-largest percentage revenue hit in the industry in 2008 with a 12.3 percent drop, according to a new report.
Only Illinois suffered a bigger drop, with a 20.9 percent decline. The report by the American Gaming Association attributed the states’ struggles, in part, to smoking bans that took effect last year.
Nationwide, casinos posted total revenue of $32.5 billion in 2008, down 4.7 percent from 2007.
“People are . . . spending less,” said Frank Fahrenkopf, president of the gaming association, which represents the industry.
The group’s report, released Monday, found that 60 percent of people who visit casinos have cut back “a great deal” or “somewhat.”
Colorado casinos reported a 14.5 percent increase in employment, from 7,925 workers to 9,073. The gaming association said the gain was a result of a change in reporting requirements.
Colorado’s 40 casinos in Black Hawk, Central City and Cripple Creek have posted a smaller drop in revenue this year, including a 4 percent decline in March. That followed a 1 percent drop in February and a gain of 1.4 percent in January.
The state’s casinos are gearing up for an expected boom when they can raise maximum bets from $5 to $100, stay open 24 hours a day and add craps and roulette. The changes take effect July 2.
The Associated Press contributed to this report.
Andy Vuong: 303-954-1209 or avuong@denverpost.com
