Colorado experienced an increase of $25 million in gaming revenue during 2010 and generated more than $107 million in commercial gaming tax revenue, according to the Denver office of the accounting firm of RubinBrown.
The firm said the passage of Amendment 50 by Colorado voters in 2009, which allowed the maximum bet in casinos to be raised from $5 to $100 and permitted properties to remain open 24 hours a day, was attributed as the main cause for Colorado’s 2010 revenue increase.
The nation’s gaming industry – which has been hard-hit by revenue declines in the past couple of years – stabilized somewhat overall in 2010 with a slight increase in adjusted gross revenue of 0.34 percent over 2009.
This was the first time the industry has seen an increase in revenue since 2007, according to the firm.
The report credited the slight increase in overall gaming revenues to the continued “economic recovery throughout the nation.”
“Gaming continues to expand through changes in gaming legalization, updates in technology and expansion into new markets,” said Gregory Osborn, managing partner of RubinBrown’s Denver office. “One of the trends that we’re currently seeing and expecting to see more of in the next few years is an expansion of non-gaming amenities at casinos, such as entertainment venues, restaurants, spas and golf courses.”
Osborn said that the consensus is that this year will “be a turning point for the industry.
“Gaming properties will rely on advances in technology such as server-based gaming, promotional coupons and handheld wagering devices to appeal to a younger audience,” he said.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com.
