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Posted: 9:00 AM Nov 19, 2008
Cripple Creek Casino Seeks Bankruptcy Protection
The Imperial Casino Hotel in Cripple Creek has filed for Chapter 11 bankruptcy protection, but the casino's president says the business will remain open as it works to reorganize. Reporter: Associated Press |
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The Imperial Casino Hotel in Cripple Creek has filed for Chapter 11 bankruptcy protection, but the casino's president says the business will remain open as it works to reorganize.
The petition was filed Monday in U.S. Bankruptcy Court in Denver.
Monthly revenues for casinos in Cripple Creek have been falling compared with revenues from the previous year. Casino operators have blamed a weak economy, high gas prices and a smoking ban.
This fall, the Wild Horse Casino in Cripple Creek closed, putting 62 people out of work.
Imperial President Robert Brooker says customers won't notice any changes due to the Chapter 11 filing, and says there won't be any job cuts.
Brooker says business has dropped 21 percent since the smoking ban took effect.
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