Senator Wants To Raise Bets At Colorado Casinos
Here is an interesting article regarding the legislation introduced by Senator Ron Tupa.
The bottom of the article has some interesting information from Lois Rice, Executive Director at the Colorado Gaming Association. She is spot on, especially the bit about losing patrons to Las Vegas and other states that have higher stakes gaming. Below are excerpts from the article:
Casinos would also benefit if those projections hold true but the Colorado Gaming Association is waiting to see what the final measure looks like before taking a position, executive director Lois Rice said.
Rice said casino revenues were down over 15 percent in March which she blames partly on the smoking ban that took effect in January.
“The smoking ban has had a significant impact, actually more than we thought originally,” Rice said.
Rice also said Colorado casinos lose a lot of patrons to Las Vegas and even New Mexico, where there are unlimited stakes.
Gamblers are divided on raising the limit and several said the existing $5 is plenty.
“There are a lot of people that shouldn’t be gambling,” said Sherri Boda, a gambler from Longmont. “They would just lose faster and more when they really can’t afford to.”
The Gaming Association says studies have shown compulsive gamblers make up less than 2 percent of all casino visitors, and that percentage has not changed as gambling has expanded around the country.
From what I’m reading, only registered voters living in the town limits of Blackhawk, Central City and Cripple Creek will be allowed to vote on the ballot initiative, correct? How does the 76,000 signatures required to get this on the ballot come into play? I assume those are 76,000 registered Colorado voters?
Charles, that is correct. All Colorado citizens can be part of the 76,000 signatures, but the actual vote would be left to citizens of gaming communities. Should be a slam dunk!
I am in New Orleans right now and it sure is a blast playing some real stakes poker!
Once we get no limit…or anything over $5, I’m spending some time here - Triple Crown Casinos. Their Midnight Rose Casino has a pretty decent poker room that I try to frequent.