CENTRAL CITY, Colo. -- Several casinos in Black Hawk and Central City are saying they will never close their doors again after new gaming laws took hold at midnight.

At one minute past the stroke of midnight early Thursday morning, the face of gambling in Colorado changed forever.

The prevailing thought among casino owners is that loose rules will attract young people who might otherwise opt for a cheap flight to Vegas.

"You can come to the Mardi Gras, make $25 bets. You had to go to Vegas to do that before, so that attracts a somewhat younger clientele," said Jef Bauer, vice president and general manager of Golden Casino.

New laws brought the dawn of 24/7 gambling, higher stakes with maximum bets now $100, and two new games -- Vegas favorites craps and roulette.

"We've got a full poker room. I mean this is the way it's supposed to be," said Joe Behm with Fortune Valley Hotel and Casino.

It was an all-nighter for mother and daughter tandem Pat Collins and Fawn Webb.

"I had fun. I had fun, I'm still wide awake, but I'm going down," said Pat Collins.

"People are very excited. We think tonight is going to be good but this weekend is going to be huge," Bauer said.

At a time when many industries struggle, the Colorado gaming industry is hiring.

"I was picked out of 1,200 people and they put me through the dealing school, which has really been an amazing thing. I learned so much," said Elizabeth Mazzotti, a newly trained card dealer.

Many casinos say they are now open for good, 24 hours a day, seven days a week, 365 days a year. Casino operators believe the new laws could generate hundreds of millions in new tax revenues for community colleges in the first five years.

Law Changes Everything

The casinos in Colorado's three mountain gambling towns were part of a roughly $7 million campaign to persuade state voters to let them have more games, operating hours and betting limits. Then they spent millions more adding workers and tables to take advantage of the changes.

As of 12:01 a.m. Thursday, thanks to events sparked by voter approval of Amendment 50, gamblers were able to wager $100 instead of $5 and play craps and roulette instead of just poker, blackjack and slots. They can play all night long, instead of stopping between 2 a.m. and 8 a.m.

Casinos in the gambling towns of Cripple Creek, Central City and Black Hawk hope that will mean revenue after taking hits from the recession, high gas prices and smoking restrictions in the last year. Meanwhile, community colleges stand to gain millions from their share of gambling tax revenues.

Golden Casino Group Vice President Jef Bauer said it's setting up Colorado to have a growing gambling industry this year, when casinos elsewhere are struggling.

"A lot of people around the country were scoffing at Colorado because we have limited-stakes gambling. Right now, they're not laughing. They're all a little bit jealous," Bauer said.

Amendment 50 allowed voters in Cripple Creek, Central City and Black Hawk to decide whether to expand gambling, and all three towns overwhelmingly decided to do so.

Economists for the Legislature predict Amendment 50 will be responsible for $30.6 million in new revenue in fiscal 2009-2010.

Casinos collected $180 million in gambling tax revenue in fiscal 2007-2008.

The extra money would go to public community colleges, junior colleges and local district colleges and to towns and counties that host casinos.

Colorado Community College System President Nancy McCallin said it could mean $7 million to $10 million in extra funding for community colleges in the fiscal year beginning July 1, 2010, at a time of booming enrollment and cuts in state budgets.

Central City Mayor Ron Slinger estimated Amendment 50 has already added 200 to 250 jobs. In response to the amendment, the town eased parking requirements and height restrictions on buildings to be ready for investors with plans to bring in new businesses, Slinger said.

At the Fortune Valley Hotel and Casino in Central City, hundreds of cakes, 1,200 pounds of crab legs and three Elvises awaited VIP guests the casino was hosting Wednesday night. Its 118 rooms were nearly all booked. It added 100 new employees -- a 25 percent increase -- so it could stay open around the clock.

In Black Hawk, a technician was reconfiguring slot machines at the Golden Mardi Gras Casino to take higher bets. It also boosted hiring by 40 percent to about 500 employees.

The casino has added pho and other Asian dishes to cater to higher-stakes, VIP gamblers it now expects to draw, Bauer said.

Cripple Creek Mayor Dan Baader said town leaders hope the changes brought by Amendment 50 can help lure investors and fill vacant lots.

"We got what we asked for, and it all has to bear fruit," he said.

"A lot of people think it's going to be a panacea, but the economy's got to turn around first," said American Gaming Enterprises LLC Chief Operating Officer Eddie Lynn, who is hoping to break ground on a casino and hotel in Central City next year. Lynn expected a total investment of $70 million, or about $20 million more than if Amendment 50 failed.

Retired carpenter Charles Smith of Denver said he lets himself bet too little and goes to bed too early to care much about expanded gambling.

"There's so many people who have gambling problems much worse than what I got," Smith said after playing mostly penny games at four Black Hawk casinos Wednesday. "Being able to bet $100, 24 hours a day, is just looking for trouble."