[Gonzopozo]

From The Denver Post

A pair of well-heeled Miami businessmen are bankrolling a $261 million hotel and casino project in Black Hawk that is laden with great potential as well as controversy.

They're snatching up the last major parcel of prime, undeveloped land in Black Hawk, the state's premier gambling town.

The 24-acre parcel sits at the town's main entrance, and would be the first gaming property metro-area travelers see when they enter town.

However, the developers still need to finalize the property sale, secure an excavation permit to blow up a mountain, and remove an estimated 500,000 cubic yards of rock before the casino can be built. It could be finished as early as 2007.

The project, called Colorado Mint Hotel & Casino, was plagued by a scam that allegedly swindled millions from investors.

The site is definitely one of the larger, more desirable sites left," said Steve Higgins, owner of Heritage West, a real estate brokerage and consulting firm that focuses on the Black Hawk and Central City markets.

The development would feature a 250-room hotel, 1,350 slot machines, at least 26 table games, a 1,500-space parking structure, a full-service spa and four restaurants.

It is expected to replicate the feel of a grand Western lodge with shake-style shingles, native stonework, metal roofing and wrought-iron lanterns.

If opened today, the casino would be the largest in the state based on the number of slot machines. The Isle of Capri is currently the largest with 1,191 machines.

Gonzo