Las Vegas Sun

December 5, 2009

Currently: 37° | Complete forecast | Log in

Revenues up as gamblers stay close to home

Friday, Jan. 18, 2002 | 10:52 a.m.

DENVER -- Casinos in Black Hawk reported revenues of $478.3 million for 2001, an increase of 10 percent from their 2000 total, and Colorado's gaming industry appears to have avoided the slump that hit other Colorado travel and leisure industries after Sept. 11.

State figures show casinos statewide reported adjusted gross proceeds of $676.7 million for 2001, up about 7 percent from the 2000 total of $631.8 million. Adjusted gross proceeds is the casino income left over after gamblers' winnings are paid.

Colorado casinos generated $56.6 million in revenues in December, the best December ever and up 15 percent from a year earlier.

"People are staying closer to home to gamble," Dennis Forst, a gaming analyst with McDonald Investments Inc., said. "December numbers in Illinois, Iowa and Missouri were all up between 25 and 30 percent."

In general, those regional gaming markets have performed well since the attacks, while destination markets Las Vegas and Atlantic City have felt the decline of fly-in traffic, analysts say.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 5 Sat
  • 6 Sun
  • 7 Mon
  • 8 Tue
  • 9 Wed

All events on Saturday »