Responding to a robust tourist trade, a casino developer and operator has announced plans to renovate a historic hotel in Cripple Creek, Colorado.
The Las Vegas-based Full House Resorts, Inc says it is purchasing the 19th century red brick Imperial Hotel in downtown Cripple Creek, and intends to fully renovate and upgrade the historic three-story structure.
Full House Resorts also intends to expand its popular Bronco Billy’s Casino and Hotel, as well as building a parking garage with enough spaces for just under 300 vehicles.
The combined projects will be funded in part through a $12.5 million sale of Full House Resort’s common stock.
In a statement, Full House said phase one of the development will include the purchase of the Imperial Hotel as well as several parcels of land adjacent to Bronco Billy’s. The first phase will also see construction of the parking garage.
Phase two will include the refurbishment of both the Imperial Hotel and the casino.
With a population of just over 1,000 people and half a dozen casinos, Cripple Creek has seen its economy boom since local voters in 1990 legalized gaming.
In the nearly two decades since that vote, gaming revenue has been used to renovate many of the late 19th century structures lining downtown Cripple Creek.
Full House Resorts owns and operates casinos in Indiana, Mississippi, and Nevada.
By Garry Boulard
Timely, reliable news since 1949