Gaming commission decision brings cheers
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Gaming commission decision brings cheers
Cripple Creek casino owners heralded the Feb. 16 decision by the
Colorado Limited Control Gaming Commission which stated that the
licensing agreements would remain in place. The decision, in
effect, affects the employment rate in the city. File photo
Posted: Thursday, February 16, 2012 5:35 pm
Gaming commission decision brings cheers
By Pat Hill
Colorado Community Media
|
A unanimous decision by the Colorado Limited Gaming Control
Commission to retain existing licensing agreements left Cripple
Creek casino owners and Teller County officials jubilant. Left
hanging for months over the commission’s proposal to close a tax
loophole, the decision Feb. 16 was a victory for casino employees
as well as their owners.
At issue was the commission’s proposal to require all casinos
owned by one operator to be under one license, which, in Cripple
Creek, would have increased taxes on the casinos but added to state
coffers, to the tune of an estimated $5 million. With the state in
a budget crunch, the outcome of the decision by the commission was
a nail-biter.
A reversal of the current taxing agreements would have been
devastating for Cripple Creek casino owners as the city’s four
operators of 14 casinos have maintained the historic character of
the buildings with turn-of-the-century facades.
“The gaming commission said they didn’t feel there was any abuse
and the reversal would have too big of an economic impact on
Cripple Creek,” said Teller County commission chair Jim Ignatius.
“They said the owners followed the law as it was enacted in 1992
and that the loss of jobs would mainly impact Cripple Creek.”
As well, the gaming commissioners praised the casino owners for
their adherence to historic preservation, Ignatius said. “The
commissioners didn’t say a word about money, all they talked about
was jobs, jobs, jobs.”
Posted in
News
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Thursday, February 16, 2012 5:35 pm.
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