RCI Hospitality Holdings announces that it has acquired a location in Central City, Colorado for its upcoming Rick’s Cabaret Steakhouse & Casino.
The four-story, 30,000 square-foot building is in the downtown gaming district of Central City, which is one of the three cities in the state that has legalized casino gambling.
RCI paid $2.4m (£2.0m /€2.3m) in cash for the 130 Main Street location, where the business’s subsidiaries intend to open an establishment offering fine dining, entertainment, sports betting and casino.
The company has applied for a gaming license to operate 175 slots machines, six blackjack tables and a craps and roulette table. The Colorado casino would add to RCI’s existing gaming revenue, through its businesses in Louisiana and Illinois.
During the 12-month period ending June 2022, more than $1bn wagered on slot machines in Central City, with gross gaming revenue of $80m.
In 1991, Colorado legalized in the historic mining towns of Central City, Cripple Creek and Black Hawk. This was followed in 2020 by the statewide legalization of sports betting, and in 2021 the state removed all spending limits on gaming.