Two casinos in Cripple Creek, Colorado will soon have new owners, pending regulatory approval. Michael Gaughan III, his business partner David Ross, and Joseph Canfora, the former owner of Cripple Creek’s Wildwood Casino, are the buyers. According to a press release, the acquiring company is Rocky Mountain Gaming. Wildwood is now Golden Nugget under new ownership and management.
Colorado Grande and Johnny Nolon’s are the two casinos the group is acquiring. Colorado Grande is a small casino with about 200 slot machines. It has a restaurant and seven hotel rooms. Johnny Nolon’s is across the street. It has about 200 slots and a restaurant. Johnny Nolon’s does not have a hotel. Neither has table games.
Players who earn comps at Johnny Nolon’s can use them toward a room at Colorado Grande. The casinos have the same owner, just as they will after the transaction closes.
Both Colorado casinos offer a great video poker value
Colorado Grande and Johnny Nolon’s are unique casinos. Both are Colorado casinos with coin video poker. That is rare these days. In US Casino Advantage’s last Cripple Creek visit, these were the only two casinos in town with coin slots.
The best video poker at Johnny Nolon’s is 16/10 Deuces Wild, often referred to as Not-So-Ugly-Ducks (99.73%). It is on quarter Triple Play video poker machines. It drops quarter coins when cashing out. These machines also have 9/6 Jacks or Better (99.54%). The machines are so old that the Bonus Poker game on them is actually Bonus Poker Deluxe. There are also 8/5 Double Double Bonus Poker coin games with progressives. Some modern ticket games are on the floor and at the bar,
There are also coin reel slot machines at Johnny Nolon’s. The highest denomination is $25.
The coin video poker games are not as great at Colorado Grande. During our last visit, we found 9/6/5 Double Bonus, 8/5 Double Double Bonus and 9/6 Triple Double Bonus. Each has a series of progressive jackpot meters.
Cripple Creek could be at the start of a boom
Colorado casinos no longer have a maximum bet mandated by law. Casinos can make the max whatever they want. Previously, the maximum allowed bet was $1000. It was $100 before that. When Colorado casinos opened in 1991, the max bet was $5.
Another change was that any game is now permitted. That added baccarat to the mix. In 2011, craps and roulette were added. Previously, all games required cards. Games of chance were not permitted until 2011.
Black Hawk, Colorado grew because of the end of bet limits
Investment in Black Hawk exploded in anticipation and after bet limits disappeared and baccarat entered pits. Bally’s acquired Mardi Gras, Golden Gates, and Golden Gulch. Monarch built a hotel tower with resort amenities that now greets visitors entering Black Hawk from the east.
Central City, which borders Black Hawk, has not seen this level of growth. Dragon Tiger is the rare Central City investment since the new rules went into effect.
Cripple Creek may be different. It is about three hours south. Cripple Creek serves Colorado Springs, while Black Hawk and Central City are closer to Denver. Cripple Creek may find this to be a good time to attract more regional tourism and locals traffic.
Golden Nugget and Bronco Billy’s seem to agree. Both properties experienced large investments in recent years.
While anything can happen, it seems like a good bet on Cripple Creek
It seems likely that investment will be made in the properties. For example, both casino websites are hopelessly broken, and the buildings are old. However, it seems like there is little downside to the new ownership.
Cripple Creek has some potential downsides. Staffing is a problem as there is little housing in the area. Extreme winter weather can make the town inaccessible in the winter.
The Colorado Springs airport has far fewer flights and destinations than Denver does. The roads to Cripple Creek are not as modern and wide as the ones between Black Hawk and Denver. This may affect Cripple Creek’s ability to compete with Black Hawk, especially on higher value players.
This story was corrected with Michael Gaughan III, the former Rampart and Coast Casinos executive, not his father, the owner of South Point.
