The owner of the Imperial Hotel & Casino in Cripple Creek, reeling from a roughly 20 percent drop in revenue, has sought bankruptcy protection.

A slowing economy, a smoking ban, high gasoline prices earlier this year and new competition in the former mining town pushed Imperial over the edge.

"They have all taken a toll," said manager Bob Brooker.

The casino hopes protection from creditors will allow it to hold on until July, when Amendment 50 is expected to go into effect. The measure - assuming the voters of Black Hawk, Central City and Cripple Creek approve it early next year - will give casinos the ability to raise betting limits to $100 from $5, add craps and roulette and stay open 24 hours a day.

"Amendment 50 is not going to be a savior," Brooker said, but it should help.

The Chapter 11 filing lists both debts and assets between $1 million and $10 million. The hotel opened in 1896, and the business filed for Chapter 11 once before, about nine years ago, according to Brooker.