he approval clears the way for the three Colorado gaming towns of Central City, Black Hawk and Cripple Creek, to be allowed to increase casino betting and wagering limits from us$ 5 to us$ 100 per game, to add roulette, craps, or both games to the casino floor in addition to slot machines, blackjack, and poker games, and to extend the hours of operation to 24 hours per day, 7 days per week. The new changes can become effective on July 1, 2009 at the earliest.
"The approval of Amendment 50 will make the gaming market in Colorado more competitive and we are hopeful the three gaming towns will swiftly approve and implement the new amendments, allowing the casinos to increase their product offerings and their opening hours", said Erwin Haitzmann and Peter Hoetzinger, Co CEOs of Century Casinos, Inc.
The extra tax revenue, generated through increased gaming revenues, will be distributed 78% to community colleges in Colorado and 22% to the gaming towns. Furthermore, the approval of Amendment 50 means that the current gaming tax cannot be increased without state-wide voter approval.