RCI Hospitality Holdings is a force to be reckoned with in the entertainment and online sports betting industries, and they have recently announced their plans to enter the regulated gambling market in Colorado. The ambitious company has set forth big goals for its newest property, which includes the addition of a Rick’s Cabaret Steakhouse and a full-fledged casino.
The subsidiaries of RCI have applied for gaming licenses that allow for table games and slot machines to be placed in Central City. With this move, Colorado residents can expect many exciting new developments from RCI in the near future.
A Purchase Of New Property In Central City, Colorado
On Wednesday, RCI Hospitality announced that it had completed the purchase of a 30,000-square-foot building located in Central City in Colorado. Situated in the center of the historical city’s casino sector downtown, at 130 Main Street, the newly bought site costs an estimated $2.4 million in cash and will be home to a brand-new Rick’s Cabaret Steakhouse and Casino.
The venue is expected to offer patrons gourmet food in addition to unique entertainment experiences. This is just one of many recent investments that have been made by RCI Hospitality as part of its larger effort to broaden its hospitality services across the United States.
How Online Sports Betting Is Boosting Central City’s Economy
Online sports betting has become a lucrative source of revenue for Central City, as evidenced by the almost $80 million in adjusted gross revenues generated from the slot machines during the calendar year ending June 2022. This remarkable sum perhaps should not come as a surprise considering there are only three communities in Colorado that permit such activities.
To make things even better, RCI recently submitted a casino license application that includes additional gaming facilities such as 175 slot machines, six blackjack tables, one craps table, and one roulette table. The arrival of these new gaming opportunities would surely result in an increase in income for the company’s clubs in Louisiana and Illinois–making them yet another beneficiary of Central City’s growing influence.
Colorado Gambling History And New Developments
While some states have only recently been granted the option to expand their gaming industry, there is no novice when it comes to betting in the Rockies state. Denizens of the Centennial State have been enjoying the fruits of legalized gambling since 1991 when measures were implemented in Black Hawk, Cripple Creek, and Central City.
This year marks a watershed moment for Colorado gambling as a new law will allow online sports betting and lift all previous limitations that existed on these three historic mining towns. With RCI Hospitality at the helm of its sector development, instant success should not come as a surprise. Comprised of over 60 locations and commanding an impressive roster of restaurants, nightclubs, and sports bars nationwide, this popular conglomerate has become America’s premier source of entertainment services worldwide.