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Lady Luck Ends Nine-Year Run at Central Palace

CENTRAL CITY, CO-Central Palace casino has run out of luck with its owner, the Maloof Cos. of New Mexico. Doors are locked, 55 employees displaced and 180 gaming machines have been silenced. The casino is the 33rd to fall in the past decade.

By John Rebchook | Updated on January 30, 2001

CENTRAL CITY, CO-The nine-year-old Maloof Cos.’ Central Palace casino has drawn an ace of spades in a high-stakes poker game to stay afloat amid dwindling revenues.

Thirty-three casinos have bitten the dust as a result of limited stakes gaming legislation sanctioned in 1992 by Colorado voters. Most of the shutdowns have occurred in Central City or Cripple Creek, south of Colorado Springs. The New Mexico casino operator’s shutdown displaces 55 employees and silences 180 gaming devices. Maloof also owns and operates the Fiesta Hotel and Casino in Las Vegas.

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