Colorado Casino Tax Rate To Stay The Same20-Percent Rate To Remain Intact After Regulatory Meeting |
|
Colorado’s tax rate of 20 percent for brick-and-mortar commercial casinos will not be changed, according to reporting from The Denver Post. There was a meeting of state regulators last week to discuss the matter.
The Colorado Gaming Association, which represents commercial casinos in the state, reportedly was not pushing for a change, unlike in the past.
A couple of years ago, state officials decided to lessen the casino tax rate by five percent, after the industry said it wanted 10 due to the economic crisis in the United States, which caused gaming revenues across the country to shrink.
In 2012, a new group of gaming regulators decided to reverse the decrease.
Colorodo is home to 41 commercial casinos, according to the latest tally by the American Gaming Association, the industry’s leading trade organization.
Gross casino gaming revenue in the state is about $760 million annually. For comparison, Nevada is at about $10 billion per year.
Casinos were legalized in Colorado in 1990, with the first property coming in 1991.
In addition to commercial casinos, the state has tribal gaming. Native American tribes, operating under tribal sovereignty and unaffected what Colorado decides to do with its tax rate, may operate such facilities. One example is the unincorporated community of Towaoc.
For more news from Colorado, check out its state page.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
