Colorado voters set to decide increase casino wager limits
Gamblers at Colorado casinos could have the opportunity to wager big bucks if voters approve a ballot initiative allowing local casinos to raise their limits. It’s a big move from the low stakes gambling those same voters approved of more than two decades ago and would put more control in the hands of casino town residents.
As it stands today, supporters of ballot initiative 257 are still gathering signatures on petitions to actually get the initiative on the ballot. Though they only need about 125,000 signatures to get on the ballot, their goal is to collect 200,000 just to be on the safe side.
If 257 makes the ballot it will be asking Colorado voters to not only raise the limit at mountain town casinos, it would also put control of that decision in the hands of the residents of those same small town. (Does anyone want to take a guess as to how those small casino towns might weigh in on the subject of higher limits?)
According to a report on GamingAmerica.com, supporters of the bill call it a necessary lifeline saying, “In these unprecedented times of historic unemployment and economic devastation, this measure provides a potential life preserver for these towns and added revenue for struggling community colleges and the State of Colorado.”
Not surprisingly, politicians representing those same mountain casino towns are all in favor of the initiative.
The bipartisan Colorado Legislative Council points out that while passage of the measure could create headaches for problem gamblers, it would also raise badly needed tax revenue for the state.
Colorado voters have been receptive to gambling expansions in the past adding both table games and sports betting to the offerings at the casino towns in previous votes.
Tags: US gambling news