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Colorado casinos hit a hot streak

Posted at 5:06 AM, Dec 01, 2015
and last updated 2015-12-01 07:06:11-05

Casino gambling revenues in Colorado — and the taxes those wagers generate — are on their strongest run since right before the recession hit, according to the Colorado Division of Gaming.

From July to October, adjusted gross proceeds, or wagers less payouts, at Colorado's casinos reached $281.7 million.

That is up 7 percent from the $262.1 million collected in the same period last year and represents the best start to a fiscal year since 2007. Back then, casinos reported $287.4 million in adjusted gross proceeds over the same span.

The share of those wagers collected in taxes is $27.5 million, up 11 percent from the $24.9 million collected in the same period last year and ahead of the $26.8 million in taxes back in 2007.

"The industry is just building on the strong numbers we had this summer going into fall," said Lois Rice, executive director of the Colorado Gaming Association, whose members control more than three-quarters of the state's gaming devices.

Read more from our partners at The Denver Post.