Colorado casinos hit the jackpot in July, posting a 16 percent increase in revenue during the first month of higher limits, new games and round-the- clock gambling.

It was the industry’s first substantial boost in monthly revenue since December 2007.

Casinos in Black Hawk, Colorado’s premier gambling destination and home to the largest operators, were the biggest winners, posting record revenue of $54.5 million, up 19 percent from the same month a year ago.

Overall, casinos statewide reported $76.2 million in adjusted gross proceeds, which are total bets minus payouts. That represents the second-best month in total revenue, trailing only the $76.5 million posted in July 2007.

“We’re cautiously optimistic that this economic activity will be sustainable,” said Lois Rice, executive director of the Colorado Gaming Association.

Cripple Creek casinos posted adjusted gross proceeds of $15.1 million, up nearly 9 percent, and Central City had $6.6 million, up 8 percent.

“Central City’s increase is the first major increase we’ve had since the Central City Parkway opened (in November 2004),” said Joe Behm, a spokesman for Fortune Valley Hotel and Casino in Central City.

On July 2, the casinos were allowed to raise the maximum single bet to $100 from $5, offer craps and roulette table games and stay open 24 hours rather than having to close at 2 a.m.

Table-games revenue increased 111 percent with the addition of craps and roulette, though slot machines still generate the bulk of the business. Slot revenue grew 8 percent.

The industry poured more than $7 million into a ballot-measure campaign last year to get the changes approved.

While business has remained steady in August, Behm said it will probably take a year to determine the full effect of the new law.

“I don’t think we’re going to know how this affected the state and our business until next July,” he said.

The industry endured 12 consecutive months of revenue decline in 2008 amid the economic recession, a newly implemented smoking ban and high gas prices during the first half of the year. It showed signs of recovery in January when revenue held relatively flat. But business continued to fall in subsequent months until July.