Colorado: RCI Reveals Casino Development Plans for the State

Colorado: RCI Reveals Casino Development Plans for the State

RCI - Colorado

RCI Hospitality Holdings, the most prominent operator in the entertainment and casino industries, has disclosed its intentions to join the regulated gambling market in Colorado.

The corporation has big ambitions for the new property, which include putting in a Rick’s Cabaret Steakhouse and a casino.

RCI’s subsidiaries have applied for a license to operate table games and slot machines in Central City.

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RCI Has Future Plans to Open New Gaming Location in Central City

On Wednesday, the corporation announced that it had successfully closed the purchase of a 30,000-square-foot building with four stories and a prime location in Central City in Colorado. 

The company bought the site, which the corporation purchased from the city for around $2.4 million in cash and it is situated in the center of the historic city’s casino sector downtown. The new location, which will likely be located at 130 Main Street, will probably be home to a dining and casino entertainment venue.

According to the information that was made public by RCI Hospitality, its affiliates want to utilize the four-story structure as the location of a brand-new Rick’s Cabaret Steakhouse and Casino. In addition to providing gourmet food, it is anticipated that the new location will also provide gambling amusement in the form of casino gaming and sports betting.

Increasing Gaming Income this End-Year 

The most recent news does not come as a surprise, given that Central City, along with Black Hawk and Cripple Creek, are the only three communities in Colorado that have legalized gambling. 

In fact, during the calendar year ending in June 2022, slot machines in Central City generated almost $80 million in adjusted gross revenues from the $1 billion in wagers placed at those machines.

The casino license application for RCI subsidiaries in Central City includes 175 slot machines, six blackjack tables, one craps table, and one roulette table. This would result in an increase in gaming income for RCI from its clubs in Louisiana and Illinois.

Completion of Acquisition to Operate 

The most recent news on the completion of the purchase of the building in Central City occurred at the same time that RCI’s subsidiaries submitted their applications for gaming licenses. 

The business said that its subsidiaries had filed for a license to operate 175 slot machines, six blackjack tables, one craps table, and one roulette table in Central City. 

Additionally, the firm reported that it had applied for a license to operate one roulette table. The acquisition of the property will, without a shadow of a doubt, result in substantial additional money for RCI, which will supplement the profits earned by the corporation in Illinois and Louisiana.

The State of Colorado Increases the Number of Gambling Options Available

Since the state of Colorado authorized gambling in Black Hawk, Cripple Creek, and Central City all the way back in 1991, the state’s gaming sector has been steadily growing over the years. 

In 2020, the state will extend its gambling choices by allowing sports betting, and in 2019, it will abolish all betting limitations that were previously in place for its three historic mining towns.

RCI Hospitality and its subsidiaries now have a portfolio that consists of more than 60 different locations. The world’s most successful entertainment conglomerate runs a variety of establishments, including adult nightclubs, restaurants, and sports bars, via its subsidiary companies.

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.