Nevada’s major gaming companies avoided Colorado for nearly two decades after casinos were legalized in the historic mining towns of Black Hawk, Central City and Cripple Creek.

It wasn’t much of a gamble.

Initially, bets in the state were limited to $5 and casinos were not open 24/7. The idea behind the 1990 legalization was to boost tourism in old west communities. Instead, analysts said Colorado’s casino customers spent a median amount that was far below the national average.

There was zero interest by Las Vegas or Reno casino operators to enter Colorado. “The three gaming markets lacked quality assets,” said JMP Securities gaming analyst Jordan Bender.