With the recent opening of Warhorse Casino in Omaha, Nebraska’s gaming tax revenue has increased significantly, setting a new monthly record. According to the Nebraska Racing and Gaming Commission, the casino generated about $6.9 million in total gaming tax revenue in August, generating about $1.4 million in gaming tax revenue. This represents about 43% of the total $3.2 million in state gaming tax revenue collected by the four licensed casinos in the state during the month.
Tax revenue was expected to soar after the opening of War Horse, Omaha’s first state-approved casino. Located at 63rd and Q Street, the casino is operated in collaboration with the Nebraska Jockey and Protection Association and the Nebraska Winnebago Tribe’s economic development arm, Ho-Chunk Inc.
Lynn McNally, CEO of the Nebraska Jockey and Protection Society, expressed optimism about the casino’s future prospects. “We’re really excited to finally open in Omaha, and we’ll only be going up after that,” McNally said, according to Kinney Hub, noting the casino’s initial performance was in line with expectations.
Prior to August, Nebraska Casino’s monthly tax revenue was about $1.9 million, which was achieved in May 2023. Warhorse Omaha’s success was instrumental in setting this new benchmark, despite completing only the first phase of its development.
Future expansion and enhanced amenities
The Omaha branch’s current game floor is only phase one of the project, and further expansion is expected to drive further revenue growth. McNally explained that phase two, scheduled to be completed in spring 2025, will significantly expand the casino’s services, including the completion of the game floor and enhanced dining options.
For now, the casino’s VIP room is one of the few dedicated amenities available to customers. However, McNally is confident that these early services, along with future improvements, will continue to attract a strong customer base and further increase the casino’s profitability.
Casino Earnings Comparison Across Nebraska
Warhorse Omaha earned more than three times the total gaming revenue of Hare’s Columbus, which earned $2.1 million in the same period, despite operating for only a fraction of August. It also outperformed Lincoln’s sister property, Warhorse Omaha, which had $4.5 million in total gaming revenue.
Currently, the only fully operational casino in Nebraska is Harrah’s Columbus, with War Horse Lincoln operating a makeshift facility. Lincoln Casino will open its expanded second phase in early November, which will double its size and increase the number of stadiums from 420 to 900. Additionally, the Lincoln Hotel will have a new sportsbook and simultaneous broadcast space, enhancing its service. Another state-approved casino, Grand Island Casino & Resort, is aiming for full opening in early 2024.
Revenue allocation and future outlook
Nebraska’s 20% tax on total gaming revenue is allocated to several important funds. 70% of this goes to a property tax deduction cash fund that provides residents with property tax relief. Warhorse Omaha donated less than $1 million to the fund during a partially operational month.
In addition, 25% of the game tax is paid to the county where the racetrack is located, and if the racetrack is located within the city limits, the amount is shared by the county and the city. The remaining 5% is split between the state’s general fund and compulsive gambler support fund. 슬롯사이트
Warhorse Omaha has previously offered simultaneous casting horse racing and sportsbooks offered by its temporary facility before the casino grand opening in August. As part of an ongoing effort for the Nebraska horse racing industry, Warhorse’s racecourse, Horseman’s Park, will host one Horse Racing Day on Sept. 29 this year that meets the state’s minimum requirements.