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Craps, Roulette approved for Colorado

Craps, Roulette approved for Colorado

Craps, Roulette approved for Colorado
Colorado overwhelmingly approved a measure this week that lets casinos in the town of Black Hawk raise their maximum bets from $5 to $100. Voters approved the measure in a 54 to 6 victory at the polls.The measure also approves all the new provisions included in Amendment 50, which was passed statewide on Nov. 4. It means casinos can also add roulette and craps, and stay open 24 hours a day.Black Hawk is the second of Colorado’s gambling communities to vote on the issue. Cripple Creek had already voted to approve the new betting limits and games. Central City votes on Jan. 20.A portion of the new tax revenue generated from the higher limits, new games and longer hours is earmarked for state universities and colleges. Experts think the new games could raise as much as $300 million if all three towns adopt the new rules.The new rules will go into effect this summer.Black Hawk and its casinos trust that higher stakes will make them more competitive with other gambling destinations and boost revenue, but the new rules probably wouldn’t take effect until early July, and the prospect of increased activity is already alleviating the economic concerns of the present.Last year was rough, but conditions are expected to grow. Black Hawk now expects its total revenue to be $28 million this year.According to City Manager Richard Lessner, casino gaming revenues help finance jobs are in finance, police, fire, planning and public works.The casinos have cited a desire to grow revenues, an new smoking ban and fierce competition as reasons for the expansion right now. Gamblers do travel from out of town to the former mining community these days.Cripple Creek already has approved similar changes, and Central City is next, experts said. © Copyright 2009 Online Casino Crawler This material may not be published, broadcast, rewritten, or redistributed.

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