[Gonzopozo]

From The Denver Post..

State's biggest facilities mulling ballot initiative to eliminate $5 bet limit

Colorado's largest casinos are considering a ballot initiative to eliminate the $5 bet limit at the state's
three gambling towns - Black Hawk, Central City and Cripple Creek.

The casinos are eyeing the November 2008 election for the measure, though talks are preliminary, industry officials say.

They say eliminating the bet limit would allow an industry that depends largely on local bettors to attract
out-of- state gamblers. Colorado is the only state in the country with a $5 bet limit.

"We're the largest capital investment in Black Hawk, and any type of ability to have gaming expanded through limits or
hours would definitely benefit our facilities," said Mike Vautrin, general manager of the Isle of Capri and
Colorado Central Station casinos in Black Hawk.

Biloxi, Miss.-based Isle of Capri is the largest casino operator in Colorado, with more than 2,100 slot machines at the
two Black Hawk properties.

Colorado voters legalized limited-stakes gaming at the three mountain towns in November 1990, and the first casino opened
in October 1991. The casinos can offer only poker, blackjack and slot machines and must close at 2 a.m.

The state gaming industry posted revenue of $765 million in fiscal 2006, which ended June 30, and distributed
$100.1 million in taxes for historic preservation and state and local governments. Those figures would probably surge
if the bet limit is eliminated and hours of operation are expanded.

But the measure would probably face strong opposition from politicians and anti-gaming groups. Gubernatorial candidates
Bill Ritter and Bob Beauprez would both oppose the initiative, their spokesmen said Friday.

Two percent to 5 percent of gamblers become compulsive gamblers, said Bobbi Vollmer, director of a counseling clinic at University of Denver that has a problem-gambling treatment and research center.

"It's helpful to have a closing hour, and the limited stakes can also be helpful in slowing people down," Vollmer said.

Vautrin said he has discussed a push for eliminating the bet limit and expanding hours of operation with the company's
government relations and lobbying officials, but added that there is no formal effort yet.

"It is certainly something we are exploring and keeping our eye on," said Troy Stremming, vice president of governmental
affairs for Las Vegas-based Ameristar Casinos.

Black Hawk's Ameristar is the state's second-largest casino with 1,600 slot machines. The company spent $200 million on
the purchase and renovation of the casino. It is spending another $180 million to build a luxury 33-story hotel with hopes of turning the casino into a destination resort.

Stremming estimated that a statewide campaign would cost $20 million to $25 million, but said Ameristar does not have
a "definitive plan in place" to push for a ballot initiative.

He said putting the measure on the 2008 ballot would make sense because the presidential election would probably increase voter turnout.

"If you are going to do something like that, 2008 would certainly be a year you would look at because the larger the voter turnout, the more beneficial it is for an issue like that," Stremming said.

The Colorado Gaming Association, which represents about 20 member casinos, has discussed making a push for raising the
betting limits on several occasions in the past but has never been able to get every casino operator on board.

"The smaller casinos tended not to be in support of it just because of the sheer logistics of trying to make that work
for their individual property," said Lois Rice, executive director of the association.

A measure to raise or eliminate bet limits would probably also include a provision to allow the casinos to offer more
games such as craps and roulette. It's unlikely smaller casinos would benefit from that because of their limited space.

Vautrin said the next push might come independent of the association.

Century Casinos co-chief executive Peter Hoetzinger has said he expects the stakes to be raised "sooner rather than later."

Century operates a casino in Cripple Creek and opened a $50 million casino in Central City in July.

"After more than 15 years, I believe the time has come to think about increasing the limits," Hoetzinger said.