Voters will soon decide whether to allow expanded gambling in Colorado’s mountain casinos. But who really stands to benefit?

More on that in a moment on the Face The State Radio Minute.

Amendment 50, a green light for expanded casino hours and games, passed easily this November, one of only two initiatives to gain approval. Voters in gaming towns will soon decide what changes, if any, they’ll sign on to. Assuming a “yes” vote, what does it mean for you and I?

Proponents of Amendment 50 – the gambling companies – designed the law to benefit community colleges. But all state money is fungible, meaning what new revenue is collected from gambling can displace funds currently allocated from the total budget. It’s a tax increase, even if it’s earmarked for education.

No, it’s not as bad as the energy tax hike voters rejected, but community colleges should temper their expectations. The new money may not be they panacea they’re hoping for.

For FaceTheState.com, I’m Brad Jones.