Gambling in Colorado mountain towns adds up to $1.5 billion
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- Staff Denver Business Journal
A newly released study by Oxford Economics estimates the economic impact of gambling in three Colorado mountain towns was $1.5 billion last year.
Reporting on the study, The Denver Post reports the casinos in Black Hawk, Central City and Cripple Creek supported more than 10,000 jobs. Without the 39 casinos, the state's unemployment rate would increase to 5.4 percent from 4.7 percent.
The total direct spending in the casinos and the towns that host them amounted to $852.6 million. With indirect spending counted, the total economic impact of the industry climbed to $1.5 billion.
Colorado is second only to Nevada in the number of casinos, according to the study.
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