One look at the Colorado casino revenue report from February and you’ll notice some Rocky Mountain highs and lows.
According to a report by Charlotte Capewell for CDC Gaming, Colorado's gaming industry saw a slight decrease in total revenue compared to last year.
The total adjusted gross profit (AGP) came in at around $84 million, down from approximately $86 million in February of the previous year—marking a 2% decline.
Central City reported $6 million, experiencing a significant drop of 7%.
Colorado Casino Revenue News is Not All Bad
Although Colorado's gaming revenue dropped compared to last year, there was good news from January to February. Total revenue increased by 4%, rising from $81 million in January to $84 million in February. It's worth noting that the Monarch Casino also paid out a record-setting jackpot in January.
When observing the performance across different regions, Black Hawk led the state’s gaming areas, bringing in roughly $66 million. However, this was a slight decrease of 3% from last year.
Cripple Creek was the standout performer, with its revenue increasing by 7%, generating roughly $15 million.
Slots And Table Games Experience Decreases
Despite these decreases in some areas, slot machines were responsible for generating about $72 million, a slight dip from the $74 million reported last February. Table games contributed approximately $12 million, down from $14 million the year before.
Colorado Has Unique Casino History
Casino gambling was legalized in the state in 1991 after a statewide ballot initiative was approved by voters in 1990.
This move allowed for limited-stakes gambling in the historic mining towns of Black Hawk, Central City, and Cripple Creek. The goal was to revitalize these areas, preserve their historical significance, and boost local economies.
Initially, the law permitted only small bets of up to $5, limited gaming hours, and restricted types of games. However, these restrictions were relaxed over time; in 2009, voters approved an increase in the maximum bet limit to $100, allowed 24-hour gambling, and introduced new games like craps and roulette.
Colorado Gambling Restrictions Lifted in 2020
Since then, Colorado's gaming industry has grown significantly.
In 2020, Colorado voters overwhelmingly supported Amendment 77, with 61% voting in favor. This amendment removed limits on bet sizes and allowed more types of games in Colorado casinos.
In 2023, the Colorado General Assembly passed House Bill 23-1041. This law bans betting on greyhound races that happen on tracks outside Colorado and are shown live in the state.
Real-money online casinos aren't legal in Colorado, like most U.S. states. Still, you can jump into legal online casino games via social and sweepstakes casinos.
Casinos in Colorado Show Resiliency
Gambling in Colorado has become an important part of the state’s entertainment and tourism sectors. It continues to provide substantial tax revenue that supports community development, historic preservation, and public education across Colorado.
This recent monthly revenue report shows that Colorado's gaming industry is holding steady, even with some yearly declines in certain areas and games.
