Amendments 77 and C explained: Casinos bet big on local voter, bingo halls hoping for an update

There are only 11 bingo holes, and those who support the correction basically talk about what this means for no n-profit organizations. The recovery period 77 will be able to increase gambling bets and add games.

Jason BLEVINS 4:16 MDT October 12, 2020

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The casino table is empty from the US Black Hawk Casino store, which was closed by the state's coronovirus regulations on April 27, 2020. (For Andy Colwell, for Colorado Sunpaper).

Colorado's largest casinos are throwing bones in November, and about four or 1 billion voters will support Initiative, giving more than 2, 000 residents and controlling casino games.

The 77th is the maximum of $ 100 in the state that gives voters in the public conflict with 750 audiences and 125 audiences from 1300 gambling center in Colorado. Add new games other than slots and slots, Blackjek, poker, roulette, and claps. The aid of recovery 77 is almost full of casinos, suggesting that the elimination of regulations and new pleasures for betting and new pleasures will increase the charm of gambling in Colorado while the casino owner suffers from a casino closure due to pandemic. I'm doing it.

While recovery 77 was introduced to voting by voters' petition, gambling recovery C was incorporated into voting with the overwhelming cooperation of Colorado. Recovery C is composed of urban and rural posters, and is intended to strengthen the weakened bingo industry in the state, so that the owner of the bingo license can play against the operator, so that it is a charity. Shorter waiting time.

Bronco Billy casinos spread to the north side of Bennetto Avenue of Cryptop Creek. (Sue McMillin, for Colorado Sunpaper)

But at first about the casino

The last time Colorado had a major gambling vote was in 2008, when voters approved Amendment 50-59-41. Amendment 50 had residents of three gambling towns vote on measures that would allow casinos to stay open 24 hours a day, add craps and roulette, and raise the maximum bid from $5 to $100 (residents voted and approved the casino-backed proposal).

Amendment 50 provided about $10 million in additional gambling revenues per year, 80% of which went to the casinos, and the rest was split between Colorado Junior College, the Gilpin and Teller districts, and the gambling towns.

Amendment 77 distributes the additional revenues in the same way: 78% goes to City College, 12% to Gilpin and Teller districts, and 10% to Blackhawk, City City, and Cryptoscream. The impact of Amendment 77 remains to be determined, as it depends on how local voters restrict betting at casinos and new games.

After the 2008 vote, Colorado was hit by an economic recession that caused player losses at casinos to fall by more than 10%. Until this year, it was the largest drop in casino revenue since gambling came to Colorado in 1992.

After the 2008-2009 recession, it took Colorado gambling nine years to fully recover, finally reaching its 2007 peak in 2016.

And the pandemic affected casinos and gambling revenue more strongly than the recession.

Casino closures in March, June and April caused gambling revenues to fall. In the fourth year of 2020, which ended July 31, Colorado casino players lost $617, 700, 000 and received $803, 000 in taxes. The pandemic-induced decline in gambling revenues in 2020 -- casino revenues fell nearly 27% and taxes on gambling -- fell 36% -- was the steepest in Colorado's legal gambling history. In 2019, casinos made a record $840 million, losing $3 million and taxes $125 million.

Who’s in and who’s out?

Arguments in favor of the changes to 77 include increased travel and tourism jobs in communities hit by the pandemic and giving local residents more control over gambling in their cities.

Public universities support the bill, arguing that the additional revenues would bolster financial aid and job development programs, providing education and employment opportunities during the recession.

Local choice Colorado Choice Chooke Commitment Componition, Viction Association, and Gambling Limits-Colorado players can go to non-bada players to gamble. Several casinos in Blackhawk have transformed a resort with hundreds of hotel rooms, restaurants, and entertainment other than betting in order to attract Gamblers who visit Las Vegas.

Fixed Article 77 These casinos are the source of funding for the campaign. The largest stat e-owned casino supports the 77 amendment.

Pen Nacchard, which owns a 3 3-story casino hotel with 1250 slot machines on black hooks, has sent $ 950, 000 to the campaign. The owner of the casino from the bridge is now completely abused and has successfully survived the closure of the casino thanks to the investment in sports charges that supplemented the Colorado's tax. 。 The stock price has risen about tripled since Pen National had 36 % of the berth tool shares. Barstool SportsBook's game application started last month only for baseball and basketball playoffs and NFL season opening.

On April 27, 2020, a part of the US Casino Complex in Blackhawk is on the top of the city. (Andy Colwell, especially Colorado Sunpaper)

Blackhawk's Isle Casino Hotel and Caesers Entertainment, owner of Lady Rack Casino, have launched $ 1. 1 million in the 77 revision campaign in September.

Monarch Casino Blackhawk is the final stage of extending 2 3-story hotel casinos for $ 300 million, donating $ 950, 000 to the 77 revised campaign.

Last year, the Gilpin area predicted that the gambling tax revenue in 2020 would reach $ 11. 6 million, which was the sixth year in which the district collected gambling tax of over $ 10 million, and the highest amount of the previous year established in 2019. It will exceed. The gambling business is the largest part of the ward budget, and according to the prior estimation, the ward has lost about $ 1 million per month for three months when the gambling business has been suspended. Is one year behind the expected income.

The same situation occurred in all three gambling cities: Klipur Creek, Central City, and Black Hawk have reduced the budget of millions of dollars by gambling tax. This closure occurred at the end of the fiscal year when the casino profit reached a high tax rate of nearly 20 %, so companies that rely on casino taxes themselves have reduced the huge number of monthly collections in April, May and June. It will be.

The Krpripur Creek City Council agreed with the Casino's interests and popularity with recorded depressions. The city's casino has rejected the unusual demands this week, and has rejected the unusual demands for returning to a table game. Blackhawk and Central City were able to find a casino that can play table games in mi d-September, but the state health authorities have then "protect their neighbors" who have less restrictions along Gilpin County along the pandemic protocol in the state. I put it under the status.

Opponents in the amendment proposal 77 may affect the effects of gambling and increase gambling, which does not receive additional interests to the increase in traffic, drunk driving, and gambling addiction. Talk. According to Lon Engels, the Gilpin County Committee, members of the Gilpin Township Committee mentioned that the association has divided the possibility of gambling expansion and has decided not to negotiate on this issue. 。

In November, the residents of Krupuru Creek, Central City, and Black Hawk will vote in November if the state of the state recovery 77 is approved and whether to allow an unlimited bet and side games.

Saving bingo from “a death spiral”

Another gambling voting bill, recovery C, alleviates some of the aging laws that regulate charity gambling such as bingo and lottery.

Amendment proposal C has acknowledged that a no n-profit organization pays for employees who operate a charity game, and the requirement that a charity organization must exist for at least five years before applying for a bingo or lottery game management license. It is postponed. The new law is required for charitable organizations for three years before applying for a bingo license.

Bingo was included in the State Constitution in 1958. Except for the revision of electric bingo in the mi d-1990s, Colorado has not changed much for more than 60 years.

During those 60 years, the game "entered a death spiral," said a press release from the Colorado Charitable Bingo Association, which registered with the state this month to help fix C, but said nothing about fundraising or spending. In the 1980s, Colorado had 49 bingo halls that raised $129 million for charity.

Removing the five-year waiting period for nonprofits to apply for bingo licenses and allowing nonprofits to pay volunteers who run games and lotteries would surely help the bingo industry "reinvigorate, reinvent itself, and halt bingo's downward spiral," the association said in a report.

The state would get an increase of about $83. 5 million in 2020-2021 by encouraging correction C, as the state regulates new licensees, adjusts reporting tools for nonprofit bingo organizations, and develops new bingo licenses. The state estimates that backing Amendment C would result in about 50 new bingo license orders per year, equating to about $5, 000 in fees per year.

According to the state Blue Book Voter Guide, opponents of Amendment C believe professionalizing bingo and lottery games would undermine charitable purposes by diverting donations to game operators. Proponents say commercial operators would ease the burden of recruiting volunteers for nonprofits, and making bingo games available to nonprofits would be a relief.