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Gambling panel meets after tax tiff

The Colorado panel charged with setting and enforcing rules for gambling are meeting for the first time since Gov. Hickenlooper asked three members to resign after the commission lowered casino taxes. The five-member gaming commission meeting Thursday is composed of all new members because in addition to the resignations two other members were term-limited or… Continue Reading Gambling panel meets after tax tiff

Gov. John Hickenlooper has asked the Colorado Limited Gaming Control Commission to overturn a 5-percent tax break for Colorado casinos in an effort to save funding for community colleges and historic preservation groups. While the gaming industry argues that the tax decrease will bring much-needed relief after three consecutive years of revenue losses, community colleges… Continue Reading Community colleges ask gaming commission to reconsider the 5-percent tax break

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Casino revenue is down in Colorado and most in the industry have posted a net loss for the last three years, so casino operators are looking forward to the relief that will come with a 5-percent tax reduction that goes into effect July 1. That tax cut will mean less funding for community colleges and… Continue Reading Casinos say tax break will ease their financial burdens

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Big Jim to open new Cripple Creek casino

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Despite tough times for casinos, the Colorado Limited Gaming Control Commission will consider an application for a new license in Cripple Creek this Thursday. Jim Druck and two unnamed partners intend to open Big Jim’s Gambling Hall and Saloon “soon,” Druck said. Once the commission gives him the go ahead, Druck said he and his… Continue Reading Big Jim to open new Cripple Creek casino

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Two decades of Indian gaming

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Native American gambling establishments, which now generate more than $22.8 billion annually in revenue, came into existence after President Ronald Reagan signed the Indian Gaming Regulatory Act during 1988. That law grew out of a 1976 Supreme Court decision, Bryan v. Itasca County. The Bryans, a Chippewa couple living in a mobile home on an… Continue Reading Two decades of Indian gaming

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Fountain doesn’t want it, and Cripple Creek surely doesn’t either. But there are rumblings that an American Indian tribe is considering building a casino about 10 miles south of Colorado Springs. Earlier this week, lobbyists for the Colorado Gaming Association, the casino industry’s trade association, met with several elected officials in El Paso County to… Continue Reading Indian casino in Fountain?

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City Bits

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Casino revenue down during Feb. Colorado casino revenue fell short during February because of a shortage of days. Casinos statewide reported $57.3 million in adjusted gross proceeds (AGP), down 1.1 percent from $57.9 million during February 2008 and down 0.5 percent from $57.5 million during January. The slight decrease in revenue from the previous year… Continue Reading City Bits

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