Tax breaks for Col. casinos reversed by gaming regulators

May 28, 2012 6:17 PM

Tax breaks for Colorado casinos that were approved last summer have been reversed by a new group of gaming regulators appointed by Gov. John Hickenlooper.

Not only were the tax breaks reversed by the new members of the Colorado Limited Gaming Control Commission, but the group has raised gaming tax rates by about 5 percent.

A year ago, the Colorado Gaming Association pleaded for the tax breaks after pointing out the state’s casinos had three consecutive years of collective net losses. The then commission members agreed and voted the tax breaks.

Gov. Hickenlooper disagreed and dumped the board in favor of new appointees.