Nebraska’s temporary casinos, WarHorse Lincoln and Grand Island Casino Resort, are making a significant impact on the state’s tax revenue, setting a new record.
Impressive Revenue Growth:
In March, Nebraska’s two temporary casinos, WarHorse Lincoln and Grand Island Casino Resort, reported a combined tax revenue of $1.55 million. This marks a noteworthy increase compared to the $1.34 million reported in February and $1.2 million in January, demonstrating sustained growth in this sector.
Contributing Entities:
WarHorse Gaming, operating WarHorse Lincoln, made a substantial contribution of $956,071 to the state’s tax revenue, while Grand Island reported tax payments totaling $592,321. This consistent stream of tax revenue is contributing significantly to the state’s finances.
Positive Industry Trends:
Nebraska’s casino tax rate stands at 20%, and it’s encouraging to see the growth in tax revenue, especially considering that these are temporary casinos. The state’s gaming industry is evolving and shaping up to be a valuable contributor to the economy.
Ongoing and Upcoming Developments:
WarHorse Casino at Lincoln, operational since September 24, is preparing to open its permanent venue in September 2023. This permanent facility will feature a 9,000-square-foot gaming floor with 445 slot machines, sportsbook kiosks, and simulcast and live racing. The expansion signifies the casino’s commitment to providing a comprehensive gaming experience.
Grand Island Casino Resort Expansion:
The Grand Island Casino Resort, located at Fonner Park racetrack, is gearing up for expansion. The temporary casino is set to introduce table games and more slot machines next month. The long-term plan includes a 37,000-square-foot casino floor with 650 slot machines, 20 table games, and a sportsbook, scheduled for opening in 2025. These developments will further enhance the gaming options available to visitors.
Caesars Entertainment’s Upcoming Casino:
Caesars Entertainment is also planning to open a temporary casino at Ag Park in June, adding to the state’s gaming landscape. This expansion signifies the growing interest of prominent industry players in Nebraska’s gaming market.
Nebraska’s temporary casinos, WarHorse Lincoln and Grand Island Casino Resort, are showcasing impressive growth in tax revenue, setting a new state record. This demonstrates the increasing popularity of gaming establishments in the state. With ongoing and upcoming developments, including the expansion of Grand Island Casino Resort and the entry of Caesars Entertainment, Nebraska’s gaming industry is on an upward trajectory, promising further contributions to the state’s finances and entertainment options.