Southwest Casino Corporation (OTCBB: SWCC) announced today that Colorado voters approved Amendment 50 to the State's Constitution on November 4, 2008. This amendment allows voters in Cripple Creek, Colorado, where Southwest operates the Gold Rush Hotel & Casino and Gold Digger's casino, to hold a referendum that may lead to expanded gaming opportunities in the City. Under the amendment, local voters can choose to increase the casino betting limit from $5 to $100, allow new games of craps and roulette, and allow casinos to remain open 24 hours per day.
'I am pleased that Colorado voters have given Cripple Creek residents the authority to hold their own elections regarding bet limits, new games, and operating hours,' said James Druck, Chief Executive Officer of Southwest. 'If the local voters approve changes to the Limited Gaming Act, 78% of the new revenue generated from the changes will benefit Colorado community colleges.'
Michael Hirsch, General Manager of Gold Rush, added, 'We don't know when local elections might be held, and we understand that any changes to the Gaming Act will not become effective before July 1, 2009, but we are excited about the possibility that we will be able to provide more games and services to our customers while also benefiting Colorado's community colleges.'
Southwest Casino Corporation develops, owns, operates, manages and provides consulting services to casinos, gaming facilities and related amenities. Southwest owns and operates the Gold Rush Hotel and Casino and Gold Digger's Casino in Cripple Creek, Colorado. Southwest also provides consulting services to Palace Resorts in connection with the development of a casino at its luxury resort under construction in Punta Cana, Dominican Republic and has entered into an agreement to manage the casino after it opens in early 2009. Southwest's corporate offices are located at 2001 Killebrew Drive, Suite 350, Minneapolis, Minnesota 55425.
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