Colorado Blackjack Revenue Down, Despite Higher Table Limits
Aug 19, 2010
The US state of Colorado gave a green light to limited casino gambling in 1991. At the time, table limits were just $5. Casinos could not operate around the clock, and the only games that were allowed were slot machines, blackjack and poker.
Today things are a bit different. While casino gambling in Colorado is still limited to three small towns (Black Hawk, Cripple Creek, and Central City), more than 40 casinos offer a much wider array of gambling possibilities than were available just a decade ago.
The latest change to Colorado gambling laws was Amendment 50 which went into effect in July 2009. The amendment raised table limits to $100, and gave casinos permission to operate around the clock.
Now, one year after these changes were made, Colorado casinos are shocked to see profits falling. Profits last month were $70.1 million, down from $76 last July. The new rules caused great excitement when they were introduced a year ago, but that excitement has worn off, and revenues took a dip.
Still, this month’s profits were up 13.4 percent over last month, so the industry is still charging along, and Colorado residents still enjoy the different blackjack variations and other casino games that the state’s casinos have to offer. With a large chunk of gaming tax in Colorado being handed out to local community colleges, many are happy to see the industry doing well.