The owners of Bronco Billy’s Casino & Hotel are going all in on a planned expansion, announcing plans Monday to nearly double the size of a hotel and parking garage project.

Las Vegas-based Full House Resorts, which owns Bronco Billy’s, unveiled the updated plans as part of an earnings update it released, saying its board of directors had approved the project as a result of Colorado and Cripple Creek voters lifting betting limits and allowing additional table games. The Cripple Creek City Council has given the expansion preliminary approval with final approval scheduled for Feb. 3.

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The hotel project will grow from 180 rooms to 300 rooms and will be built all at once instead of the initially planned two phases, which had included completing a 400-space parking garage before starting the hotel. The entire expansion, which will cost $180 million instead of the $120 million announced earlier, is scheduled for completion by the end of next year. The additional rooms will be built in three floors added above the planned parking garage.

The Bronco Billy’s hotel would be by far the largest in Cripple Creek, eclipsing the 158-room Double Eagle Hotel and Casino. Bronco Billy’s already operates 36 hotel rooms. And more changes are coming to Cripple Creek. American Gaming Group is building a $14 million, 102-room hotel adjacent to its Wildwood Casino that is scheduled to open by early May. Triple Crown Casinos plans to start construction on its $40 million, 150-room hotel after Colorado’s pandemic-related restrictions on hotels and restaurants are eased, said Larry Hill, the company’s general manager. Plans by Century Casinos to convert and expand the historic and long-vacant Palace Hotel in Cripple Creek into a 30-room boutique hotel remain on hold.

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Other parts of the Bronco Billy’s project — meeting and entertainment space for up to 500 people, an outdoor rooftop pool, spa and fine-dining restaurant — remain largely unchanged, Full House said in its announcement. The company said it plans to finance the expansion through borrowing, which must be completed before construction can begin. Bronco Billy’s halted preliminary work, which included utility line relocation, after the casino was forced to close for two months in the spring by state restrictions intended to slow the spread of the COVID-19 pandemic.

Baxter Lee, general manager of Bronco Billly’s, said storm drain work related to the project could resume in about a month with other parts of the project depending on weather and when financing is completed. He said the casino will have to relocate customer parking and either use valet parking or a shuttle system for customers to park offsite. Once the project is complete, he said Bronco Billy’s plans to nearly triple its 160-person staff to about 450 employees.

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“Everybody is very excited and happy to get off the pause button ad move beyond COVID. We want to bring something to the Front Range that people will really enjoy,” Lee said. “Our CEO, Dan Lee (who is not related to Baxter Lee), is convinced that there is not a shortage of gaming machines, but a shortage of rooms, in Cripple Creek and this is the number of rooms needed to meet that demand.”

Colorado voters on Nov. 4 approved Amendment 77, which allows Cripple Creek, Black Hawk and Central City to increase bet limits and offer additional games starting May 1. On the same day, Cripple Creek voters also approved a ballot question eliminating the single bet limit of $100 at casinos and gave the City Council authority to authorize more games.

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The council this month approved a resolution to allow the city’s 12 casinos to offer new games. The resolution allows 11 versions of baccarat, three forms of keno, big 6 wheel, new versions of poker, blackjack and roulette, as well as a variety of side bets and any other games approved by the Colorado Limited Gaming Control Commission. The state panel must still approve rules for the games before casinos can begin offering them.

Full House told investors it expects to revenue for the fourth quarter to fall slightly from $39 million a year earlier to between $37.8 million and $38.5 million, but also expects to report a profit of between $1.2 million and $4 million, compared to a lost of $4.1 million a year earlier. Final results are subject to completion of financial statements and an annual audit; the company last year reported its fourth quarter financial results on March 12.