Michael Gaughan, the owner of South Point in Las Vegas, is expanding his casino business into Colorado
The acquisition includes the management rights for Johnny Nolon’s and Colorado Grande casinos, both located in Cripple Creek, near Colorado Springs. These venues are situated in the heart of the city’s gaming district, which was developed in the early 1990s. Together, the two casinos offer visitors a total of 400 slot machines.
Commenting on the acquisition, David Ross highlighted the rapid growth of the Cripple Creek market. He noted the recent opening of the popular Saltgrass restaurant in December, with another establishment, Chamonix, set to launch soon. According to Ross, these new venues will help attract more visitors to Cripple Creek, who will be in need of accommodations and personalized service. Rocky Mountain Gaming believes that the newly acquired properties in Colorado will meet these demands.
Commercial casinos are permitted in three cities within Colorado's mountain region: Cripple Creek, Black Hawk, and Central City. Cripple Creek currently hosts ten gaming establishments, two of which have recently undergone renovations and rebranding. From July 2022 to June 2023, Cripple Creek's gross gaming revenue reached $166.2 million.
Eighty-year-old Michael Gaughan is the son of one of Las Vegas's gaming pioneers, Jackie Gaughan, who is best known for his role as the manager of the El Cortez hotel-casino. Michael has owned the South Point—formerly known as South Coast—since 2006. He is also recognized for holding exclusive rights to over 1,400 slot machines at Harry Reid International Airport in Las Vegas for nearly 40 years.
Meanwhile, the Isle of Man is increasing its number of jobs and iGaming licenses.
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