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November 24, 2008
CRIPPLE CREEK – The Imperial Hotel & Casino in Cripple Creek filed for Chapter 11 bankruptcy protection last week. The operator said the casino and hotel will stay open during the reorganization. The Imperial was built in 1896 as the Collins Hotel and later changed its name to the Hotel Imperial in 1905. This is the second Cripple Creek casino to hit financial instability in the past month. The first was the Wild Horse Casino which closed its operations on October 31st. Casino revenue in Cripple Creek dropped 10.3 percent in September compared to the same month last year. The decrease was less severe than the nearly 20 percent decline for Black Hawk and a 26.4 percent decline for Central City. Overall casino revenues in Colorado were down 18.72 percent. Return to Colorado Casinos. |
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