Revenues Fall at Casinos

DENVER-All bets are off at Colorado casinos with revenues dropping 5% compared with July 2002. The assumption that casinos were relatively recession proof proved false in current conditions.

By John Rebchook | August 19, 2003 at 01:01 AM

In July, Colorado's casinos in three mining towns where limited stakes gaming is allowed, saw revenues decline by 5% compared with July 2002.

Colorado's 44 casinos reported adjusted gross proceeds of $61.7 million, compared with $64.7 million a year earlier, according to the Colorado Division of Gaming.

Adjusted gross proceeds is the total amount of wagered minus payouts. In June, the casinos posted adjusted gross proceeds of $68.7 million.

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