Raising stakes left up to casinos
Senators reject bet limit proposal
By Colleen Slevin, Associated Press
Tuesday, April 29, 2008
One attempt to raise the betting limit at Colorado casinos died Tuesday, but another one is still alive.
A Senate committee rejected a proposal to ask voters to get rid of the $5 bet limit to bring in millions in extra tax revenue, partly because of fears of cluttering the November ballot with too many proposals.
But casinos are working on a ballot initiative of their own that would open the door to raising the bet limit to $100, as well as expanding casino hours and adding roulette and craps games. Currently, casinos may offer only blackjack, poker and slot machines.
Community colleges are supporting the proposal because it would steer some of the increased tax revenue their way.
If the measure gets on the ballot and passes, voters in the three towns where gambling is permitted - Cripple Creek, Black Hawk and Central City - still would have to vote to make any of the changes.
"It's just permission for local communities to make changes if they chose to," said Katy Atkinson, a political consultant who is working for casinos on the proposal.
Atkinson said voters in each town could make different decisions about gambling limits and adding games and hours.
Legislative economists have estimated that raising the limit to $100 would bring an additional $28.6 million into state coffers each year. That doesn't include revenue that could come from adding new table games or expanding casino hours.
Colorado voters approved limited stakes gambling in 1990 and agreed that 50 percent of the tax revenue would go into the general state budget, 22 percent to the gambling cities and 28 percent to the Colorado Historical Society.
The new proposal would take any increase above last year's revenue and use 78 percent of it to pay for financial aid and classroom instruction at community colleges.
The other 22 percent would go to the gambling towns and their counties, Gilpin and Teller, to pay for the impacts of increased gambling.
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