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US – Colorado casinos miss out on expected COVID-19 tax relief

By - 26 May 2020

The Colorado Limited Gaming Control Commission has rejected a suggested tax relief for casinos that would have kicked in on July 1, in a move that the Colorado Gaming Association has said will see some casinos going out of business.

Colorado Gaming Association legal counsel Mark Grueskin said that with pressure building from lenders ‘casinos may or may not be here, depending on how long this lasts.’He highlighted that the 33 Colorado casinos have had no income for two months and will be operating at reduced capacity when they do reopen due to social distancing.

The Commission though believes that without the normal level of gaming tax, beneficiaries, including county jail services to sheriff’s office patrols of Central City, would be left in a critical position.

Daniel Holmes, at accounting firm RubinBrown, predicts the casinos have lost $99m in revenue since closing on March 17, costing the state $17m in taxes.

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