Colorado Gambling Revenue on a Winning Streak in March – Laying Foundations for Further Growth

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Colorado’s gambling market continued its upward climb in March, with casino revenue reaching over $100.6 million, up 4.9% from the same time last year, according to the Colorado Department of Revenue. This growth was driven mainly by slot machines, which generated $85.6 million, while table games added another $14.9 million.

The performance highlights the strength of Colorado’s land-based gaming industry, but it also raises questions about where the state goes next, especially given the growing popularity and profitability of online gambling nationwide.

iGaming Still Not Legal, but Offshore Options Attract Attention

Despite Colorado’s strong land-based performance, the state hasn’t legalized online casino gambling, also known as iGaming. That puts it behind other U.S. states like New Jersey, Pennsylvania, and Michigan, which have all embraced digital gambling and now enjoy a significant stream of online revenue. Without regulated iGaming, Coloradans seeking online casino experiences often turn to offshore platforms.

These websites, though operating outside U.S. jurisdiction, are widely accessible to players within the state. For example, Klikki is a no account casino platform that removes the need for traditional registration, meaning players from all over the world can easily join regardless of local laws in their area. Players can deposit, play, and withdraw without signing up, streamlining the process. This platform also draws users in with its generous welcome bonuses and frequent cashback offers, a model that keeps players engaged and returning.

While these sites are legal in the jurisdictions where they’re based, their presence highlights a missed opportunity for Colorado. These platforms are generating revenue from Coloradans, but the state itself collects none of it in taxes.

What Legal iGaming Has Meant for Other States

In contrast, states that have legalized iGaming are reaping the rewards. New Jersey remains a standout, with online casino operators bringing in $243.9 million in revenue in March 2025 alone. Michigan and Pennsylvania followed closely behind, both reporting similar figures north of $230 million for the same month. These numbers continue to grow annually, driven by strong demand and a wide variety of digital gambling products, including slots, blackjack, roulette, and poker, all available from smartphones or desktop computers.

The tax benefits are substantial. New Jersey, for example, applies a 15% tax on online gross gaming revenue, helping fund various state initiatives. Pennsylvania is even more aggressive, taxing online slots at a rate of 54%, which has proven to be a powerful revenue engine for its public services. These figures dwarf traditional revenue from physical casinos alone and show what is possible when iGaming is incorporated into a state’s gambling framework.

If Colorado were to follow suit, even a conservative rollout of online casino gaming could bring in tens of millions of dollars per year. With proven interest among Colorado residents and strong performance in land-based venues, the state appears well-positioned to expand.

Physical Casinos Still Going Strong

That said, Colorado’s traditional casinos are hardly underperforming. Black Hawk, home to 15 casinos, led the charge in March with $77.2 million in revenue, a significant portion of the statewide total. Cripple Creek’s 12 casinos posted $16 million, while Central City’s six casinos generated $7.3 million. Black Hawk and Cripple Creek saw year-over-year increases of 11% and 13% respectively, showing that demand for in-person gaming remains strong, especially in more developed regions.

Slot machines once again led the revenue chart with $85.6 million, marking a $3.3 million increase over March 2024. Table games rose by $1.4 million to reach $14.9 million. Combined tax revenue from casino gaming also climbed from $17.5 million last March to $18.6 million this year, an encouraging sign for state coffers.

Building Toward a Balanced Future

Colorado’s success with brick-and-mortar casinos shows that it has already laid the groundwork for a robust gambling industry. The infrastructure, regulation, and player interest are clearly in place. However, the digital component remains missing. Without legal online casinos, the state not only misses out on additional tax revenue, but it also falls behind in meeting the evolving preferences of its population.

As various platforms continue to attract users with their seamless no-account play and cashback incentives, the demand for convenient, mobile-accessible gambling will only grow. Offshore casinos will continue to absorb that demand until Colorado lawmakers decide to bring it under state oversight.

Legalizing iGaming wouldn’t replace the land-based sector, it would complement it. Many other states have found that online gambling enhances overall interest, creating a fuller ecosystem of entertainment options. It also provides flexibility during off-peak seasons or in times of economic uncertainty, where physical foot traffic may dip.

Conclusion

Colorado’s brick-and-mortar gambling industry continues to thrive, with March’s impressive revenue figures underscoring the sector’s strength. However, the growing use of offshore platforms signals clear consumer interest in iGaming, a segment the state has yet to regulate.

As other states reap the rewards of legal online gambling, Colorado faces a pivotal choice. By expanding into iGaming, the state could unlock new revenue streams, enhance player protections, and build a more comprehensive gambling ecosystem. With a solid land-based foundation already in place, the opportunity for further growth is evident. It’s now a matter of when, not if, Colorado will act.

If you or anyone you know has a gambling problem, call 1-800-GAMBLER.