Colorado casinos see record revenue
Three casinos took in more than $800 million
2018 was a good year, for the most part, for casinos in Colorado. Casinos in Black Hawk, Central City and Cripple Creek reported record revenue as a whole, but Cripple Creek knows that there’s work to be done if it plans on remaining competitive. As a group, the casinos in the three locations reported revenue of $842 million for last year.
Statewide, casino revenue continues to climb, a trend that began ten years ago. However, Cripple Creek hasn’t been as fortunate. In 2008, its gaming industry took in $147 million; last year, it only received $136 million.
The reasons for the decline are easily identifiable, at least to those involved in the industry. Cripple Creek is not easy to get to and it has a lack of hotel rooms that make it less attractive. One gambler who frequents the area, Colleen Schwanz, explains, “I think when it first became all the casinos it was very busy and it was a lot more people up here. It’s kind of died down I think in what we’ve seen.”
More products are coming to Cripple Creek casinos, though, in an effort to give them a shot of adrenaline. More hotel rooms are coming and more gambling options are going to be offered. However, it will still have to fight against other, more established areas. The owner of Cripple Creek’s Wildwood Casino, Joseph Canfora, states, “Black Hawk, as you know, is a much larger market and they have predominantly changed with a tremendous amount of growth with more rooms, more casino space, more product to serve the Denver market.”