Colorado Commission Cut Over Casino Tax Break

Colorado Commission Cut Over Casino Tax Break

Despite being given a modest 5% tax break, Colorado casinos may decide to give it back with the recent public unrest. In a state that is undergoing major reductions, having closed several state facilities and even a prison, the Governor rightly pointed out that the tax cut for the casinos was unfair for everyone except the casino owners.

Casino Owners

When Colorado casinos went before the small commission put in charge of the decision, the casinos defense in needing tax cuts was related to a ban on smoking plus other economic factors that were reducing profits for the casinos at the time.

Colorado Casino Expansions

Not all Colorado casinos were suffering though as many were able to expand. Casinos in Colorado are willing to relinquish the cuts in taxes if new regulations on payouts can be explored.

In the meantime, the gambling commission will need new appointments as each member either resigned or stepped down after their terms expired.

July 22, 2011 by : posted in Land Based Casino News No Comments