Colorado Gaming Measure Proposes to Allow Roulette and Craps in State Casinos
On October 25th, 2008, the gaming measure in Colorado proposes to modify the state constitution to give permission to residents in Central City, Black Hawk and Cripple Creek to decide on whether to increase casino wager limits to $5 to $100, extend gaming operations to twenty-four hours and offer roulette craps to customers. It also proposes to take away the authority from regulators to just raise taxes on the gaming industry. Some critics say that it will just turn the historic town into round-the-clock gaming destination.
It could also turn some people into compulsive gamers and restricts future tax increases on the industry to statewide voters. But supporters of the gaming measure said that much of the additional profit would be allotted towards financial aid and classroom instruction at the community colleges in Colorado; these changes could make Colorado more competitive with other gaming markets. Currently, twenty-two percent goes to the gaming towns, fifty percent to the state general fund and twenty-eight percent to statewide historic preservation.
Under Amendment 50, up to six percent of new revenue produced by the measure-above the present tax revenue stream-would given to the existing beneficiaries, of the remaining new revenue cash pot, seventy-eight percent would be allotted to the community colleges and twenty-two percent to the gaming jurisdictions.