Casino operators — including Monarch — are backing the campaign supporting the ballot measure
Casinos in the State of Colorado are pushing for an amendment to the constitution in order to pave the way and attract the high rollers that typically leave Colorado to gamble elsewhere.
Coloradans are voting this election on Amendment 77, such an amendment would allow residents to decide whether to lift a statewide cap on how much a person can risk on a single bet. This proposed measure also includes adding new games.
It is thought that such changes would allow Colorado to be more competitive with other states that do not have set betting limits whilst also having a wider variety of games, for example, baccarat.
COO at Monarch Casino in Black Hawk, David Farahi, outlined that currently, gamblers are not able to play such a card game in Colorado casinos, therefore, they are forced to visit casinos outside of the state. He further added that “Most of those people go to Las Vegas,”
Casino operators — including Monarch — are backing the campaign supporting the ballot measure.
Other large contributors include casino owners Caesars Entertainment and Penn National Gaming.
Residents of Colorado spend an estimate of about $300 million at out-of-state casinos on an annual basis according to a commissioned report by Monarch.
Even though Farahi does not assume that people from Colorado will stop going to Las Vegas to gamble, but state casinos could take a larger slice of the gambling pie.
Of course, that’s good for the bottom lines at casinos, but it’s also good for jobs and the economy.
Farahi further stated that “The person that goes to Vegas, six, 10, 12 times a year — if we can get them to come to one of Colorado’s three gaming towns one or two or three of those times — it keeps the dollars in the state “
Colorado has seen gambling legalized for 30 years now, with restrictions loosening over the last couple of decades. During 2009, limitations on individual bets raised from $5 to the current $100.
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