City councils will be able to decide their own betting caps along with which games to offer in their jurisdictions.
US.- The state of Colorado has approved Amendment 77 on the November ballot lifting the existing limits on wagers at casinos and paving the way for new games.
Until now, a $100 table bet limit was in place throughout the state, but each of the state’s city councils will now have the option of lifting the cap in their jurisdictions.
Each city council will also decide which games will be offered in their jurisdictions. There are three gaming centres in the state; Black Hawk, Central City, and Cripple Creek.
Part of the state revenue generated by the changes will be directed to the preservation of historic sites in the towns. Community colleges will also benefit.
Analysts have reacted positively. Roth Capital analyst David Bain said operators of all stripes will benefit from eliminating the betting cap and offering a wider variety of games.
Bain said “We believe the increase in wagers will appeal to higher net worth clients, potentially fueling more trips/overnight stays. An augmentation to baccarat and/or Pai Gow tiles could also expand the demographic, particularly the Asian patron, in our view.”
The amendment had received opposition from Jeff Hunt, the director of Colorado Christian University’s Centennial Institute.
Speaking to local radio, he said: “People could be losing unlimited amounts of money, jeopardizing their mortgage payments, their healthcare payments, their college payments.”