Full House Resorts, owners of Bronco Billy’s Casino in Cripple Creek, Colorado, is considering adding 70 more hotel rooms to a hotel project that already will be the biggest in the city.
The two-block long Chamonix Casino Hotel is under construction next to the casino. Once complete in late 2022 or early 2023, it would have 370 rooms and be the second largest hotel in the Colorado Springs metro area. But it could end up being even larger.
Full House CEO Dan Lee commented on a conference call last week, “We’ll make a decision in the next couple of months on whether to go to the Cripple Creek City Council and get those approvals and get our board approval and so on, but there’s a pretty good chance we’ll try to upsize the scope of this because the market seems to be there for it.”
Lee said he’s been encouraged by the success of other hotels that have opened lately in Cripple Creek, including the Wildwood Hotel in July and by record second quarter profits from Bronco Billy’s. Table game revenues in Cripple Creek have leaped 35 percent since the elimination of betting limits in the state on May 1.
Lee said the company has calculated that it could make as much as $60 million annually on a $230 million investment, making them think, “Well, the most efficient way to add the extra wing is to do it right now.”
This is especially true because the Chamonix project is in the beginning stages and the foundation hasn’t yet been set. So it will be easier to add now than later. One the hotel is finished, Bronco Billy’s will be closed for several months for renovations.
