Around the United States, the casino market has taken a big hit. The economic crisis has caused significant declines in gaming revenue for the most part of 2009 and not many states have seen an improvement in their gaming revenue for last year. However, the state of Colorado is one of those states where revenue has improved.
The Colorado Division of Gaming released figures on January 24th, 2010 that shows that Colorado casino revenue was up by 2.6 percent. The increase was a result of expanded gaming in the state. The recession in the United States started back in 2008 and since then, gaming revenue at majority of casino facilities in the US has dropped.
Individual states in the US have started to counter the dropping revenue with new laws that have helped keep their casino market from dying. The state of Colorado is one of those states that have changed their existing gaming laws to help stabilize their gaming market.
The wagering limit in Colorado’s casino facilities have been increased, permitting gamers to spend more than they were allowed to in past years. That improvement in the law has restored the revenue that has been lost because of the economic crisis.
Last year, there was a significant distinction between gaming revenue before the new gaming laws took effect and after. In the first part of 2009, gaming revenue was down by 3.9 percent from the same period in 2008.
Once the laws have been changed, revenue was up by 9.2 percent in the 2nd half of the year, compared with the previous year.
Before 2009, players had maximum wager of $5 that was permitted. The new law allowed for up to $100 on a wager. That big change has revived a dying industry and has state officials looking forward to 2010.