Nebraska Gaming Tax Decline in June

In a notable shift for the state's gaming industry, Nebraska's four casinos reported a combined gaming tax revenue of $1.78 million in June 2024, reflecting an 8.24% decline from May's figures. This drop comes despite an annual increase, highlighting the sector's volatility and seasonal trends. June typically witnesses slower gambling activities, a pattern observed nationwide. However, Nebraska's gaming landscape is poised for significant change with the imminent opening of the permanent WarHorse Casino in Omaha.

The Nebraska Racing and Gaming Commission's latest report indicates varied performance across the state's casinos. WarHorse Gaming Lincoln, the highest contributor, reported $890,858.05, marking a 6.68% decline from May. Grand Island Casino & Resort saw a substantial 29.31% drop, bringing in $424,227.60. In contrast, Columbus Casino bucked the trend with a 23.48% increase, generating $453,398.90. WarHorse Gaming Omaha experienced the sharpest decline at 33.18%, contributing only $13,110.94.

The Key Developments

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On August 6, Nebraska will see the grand opening of the permanent WarHorse Casino in Omaha, a move expected to revitalize the local gaming industry. Approved unanimously by the Nebraska Racing and Gaming Commission, this new venue will replace the temporary facility that currently offers a sportsbook and simulcast horse racing. The new casino, located at 63rd and Q Streets, will boast 925 gaming positions, table games, and the Sweetwater Café. The casino's second phase, anticipated in spring 2025, promises 400 additional gaming positions, a smoking area, and expanded dining options.

The WarHorse Casino project is a collaboration between the Winnebago Tribe's firm, Ho-Chunk, and the Nebraska Horsemen’s Benevolent and Protective Association (HBPA). This partnership underscores a long-term vision for the state's gaming industry. Lance Morgan, CEO of WarHorse and Ho-Chunk Inc., emphasized the project's significance, stating, “In some ways, I’ve been working on this for about 30 years. It’s almost hard to believe. A little surreal. But I can’t wait to see it open. And then, like anything else, we’ll just get to the next phase and keep it growing.”

Legislative Moves Towards Online Sports Betting

In addition to the physical expansion, Nebraska's gaming sector is also eyeing digital growth. Governor Jim Pillen has announced a special legislative session starting July 25 to address property tax reform. Concurrently, gaming officials and casino operators, spearheaded by Ho-Chunk, are lobbying for the inclusion of online sports betting legislation. This initiative aims to authorize mobile sports betting, potentially appearing on the November ballot. While the road to legal online betting is fraught with legislative hurdles, this move represents a significant step towards modernizing Nebraska's gambling framework.

As Nebraska navigates the ebbs and flows of gaming tax revenues, the opening of the WarHorse Omaha Casino marks a pivotal moment. The new venue is not only set to boost the state's gaming income but also heralds a new era of growth and modernization. With strategic partnerships and legislative efforts towards online sports betting, Nebraska's gaming industry stands on the cusp of a transformative period, promising enhanced revenues and broader gambling opportunities for residents and visitors alike.