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The AmericaNebraska's Temporary Casinos Generate $1.54 Million in Tax Revenue for October

Nebraska’s Temporary Casinos Generate $1.54 Million in Tax Revenue for October

During the month of October, Nebraska’s three temporary casinos, located in Lincoln, Fonner Park, and Columbus, collectively contributed $1.54 million in tax revenue. The casinos, subject to a 20% tax rate on their combined gross revenue of $7.73 million, provide insights into the evolving landscape of gaming in the state.

Temporary Casino Overview:
The temporary racetrack casinos include the Grand Island Casino Resort in Grand Island, WarHorse Casino in Lincoln, and Harrah’s Columbus NE Racing & Casino. Slot activity dominated the revenue composition during October, accounting for 93.4% of the total casino revenue.

Individual Contributions:
Warhorse Gaming’s facility in Lincoln emerged as a significant contributor, representing 54.1% of the revenue from slots, sports betting, and table games, totaling $4.1 million. The gaming taxes paid by this facility amounted to $1.5 million for the month. Grand Island Casino Resort in Grand Island reported gross gaming revenue of $2.4 million, while Harrah’s Columbus saw gaming revenue of $1 million.

Tax Distribution and Utilization:
In the first nine months of the current year, the Nebraska casinos collectively generated gaming taxes amounting to nearly $14.4 million. The distribution of these taxes follows a structured allocation, with 7% allocated to the state’s Property Tax Credit Cash Fund. Cities and counties where the casinos are located share 25%, and the remaining 5% is split between the state’s general fund and the Compulsive Gamblers Assistance Fund.

Upcoming Permanent Venues:
The future of gaming in Nebraska looks promising with the anticipation of permanent casino venues. Grand Island’s permanent venue, expected to open in 2025, will feature a 37,000-square-foot casino floor housing 650 slot machines, 20 table games, and a sportsbook. WarHorse Casino’s permanent location in southwest Lincoln is set to open in September 2023, offering a 9,000-square-foot gaming floor, 445 slot machines, sportsbook kiosks, and facilities for simulcast and live racing. Caesars Entertainment’s permanent location is slated for a spring 2024 opening.

The October tax revenue figures reflect the immediate impact and financial contributions of Nebraska’s temporary casinos. As the state progresses towards establishing permanent casino venues, the gaming landscape is poised for significant growth, contributing both economically and culturally to the regions they serve. The data provides a snapshot of the evolving gaming industry in Nebraska, with a focus on tax revenue distribution and the promising future of the state’s gaming offerings.

Statement: The data and information in this article comes from the Internet, and was originally edited and published by our. It is only for research and study purposes.

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