Colorado casinos post August decline
September 22, 2011
Gross gaming revenues at Colorado casinos were down in August, to $64.6 million, a 9.4 percent decrease from July’s win figure of $71.3 million. Casinos statewide reported $67.2 million in revenue in August a year ago, so 2011 is down 3.75 percent compared to the same month in 2010, according to the Colorado’s Department of Revenue – Gaming Division.
Black Hawk’s 18 casinos led the state with $46.3 million in August, down 9.7 percent from $51.3 million in July 2011, and down 4.1 percent from $48.3 million in August 2010.
Cripple Creek’s 14 casinos generated $12.4 million; and Central City’s eight casinos produced $5.9 million this August. Although two new casinos opened in July, no new Colorado casinos opened or closed in August; there were a total of 40 casinos operating in both 2010 and 2011 in the month of August. Cripple Creek’s numbers were down 8.8 percent from $13.6 million posted in July 2011, and down 3.9 percent from $12.9 million in August 2010. Central City was the steadiest of the three cities, although numbers were down 7.8 percent from $6.4 million in July, 2011 and down 3.3 percent compared to August 2010 when Central City generated revenues of $6.1 million.
Casinos statewide paid a total of $5.6 million in taxes this August, up 167 percent from July’s tax total of $2.1 million. In August 2010, statewide casino taxes totaled $6.1 million, which makes 2011’s figures an 8.2 percent decrease in comparison. All Colorado casinos start at the lowest tier for tax rates each July 1, with rate increases possible each month related to the casino’s total revenue for the fiscal year.
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