The Wild Horse Casino in Cripple Creek has closed its doors following a year of steady losses for Colorado casinos.

The casino said it was giving out final paychecks to its 62 employees on Saturday.

In the three historic mining towns where gambling is allowed, revenue has fallen every month this year. Operators blame a smoking ban which was extended to casinos this year as well as the weak economy and high gas prices.

However, casinos in Cripple Creek have also faced more competition with the opening of the new Wildwood Casino at the entrance to town. While Cripple Creek revenue hasn't fallen off as much as in Black Hawk or Central City, that revenue is now split among more slot machines than before.