Colorado casinos set new record

Aug 23, 2005 1:13 AM

Colorado casinos recorded their best month ever for revenues in July, despite the closure of a major highway due to a rockslide that connects the Denver area to the Black Hawk and Central City market.

Gaming establishments statewide generated $69.9 million in adjusted gross proceeds (AGP) in July, topping the previous all-time mark of $67.3 million set in July 2004 by nearly 4 percent.

The July total was also 12.2 percent higher than the $62.3 million in AGP tallied in June. AGP is simply defined as the amount wagered by bettors less payouts from casinos.

Black Hawk’s 21 casinos reported $47.7 million in AGP in July, down $5,000 from the record set the previous July and up from $43.0 million in June.

Cripple Creek’s 19 casinos produced a record $15.1 million in AGP in July, up from the previous record of $15.0 million in July 2004 and from $13.1 million in June.

Central City’s seven casinos totaled $7 million in AGP in July, up 57.8 percent from $4.4 million in July 2004 and up from $6.2 million in June. July was the first month Central City casinos topped the $7.0 million plateau since August 1999.

For fiscal year 2005 ended June 30, 2005, casinos in Colorado generated a record $743.8 million in AGP, up from $711 million the previous year.

Black Hawk’s 21 casinos recorded a fiscal year total of $527.6 million, up from $516.3 million the previous fiscal year.

Cripple Creek’s 19 casinos reported revenues of $150.5 million, up from $145 million the previous fiscal year.

Central City’s seven casinos earned $65.6 million for the fiscal year, up from $49.7 million recorded the previous year.