In June, Nebraska witnessed a notable uptick in tax revenue generated by its three temporary casinos located in Lincoln, Fonner Park, and Columbus. The total tax revenue for the month reached $1.36 million, marking a 5.4% increase compared to May but falling short of the peaks seen in March and April.
Contributions from Key Players:
Among the contributors, WarHorse Gaming led the way with a substantial $764,039, followed by Grand Island, which contributed $414,337. Caesars Entertainment entered the scene with a temporary casino at Ag Park in June, adding over $179,000 to the state’s coffers.
Revenue Trends:
While the June figures showcase growth, it’s essential to note the fluctuations observed in previous months. March’s revenue peaked at $1.55 million, followed by a dip in April to $1.39 million, and a subsequent rise in May to $1.29 million. These dynamics reflect the evolving landscape of Nebraska’s temporary casino industry.
Six-Month Overview:
For the first half of 2023, the state accumulated nearly $8.2 million in gambling taxes. Notably, 70% of this revenue contributes to the state’s Property Tax Credit Cash Fund. Racetrack-hosting counties receive 25%, while the remaining 5% is divided between the state’s general fund and the Compulsive Gamblers Assistance Fund.
Casino Developments and Expansion:
Grand Island’s temporary casino at Fonner Park racetrack has undergone enhancements, introducing new table games and slots. The anticipation builds for the permanent venue scheduled to open in 2025, featuring a spacious 37,000-square-foot casino floor, 650 slot machines, 20 table games, and a sportsbook.
Similarly, the permanent WarHorse Casino in southwest Lincoln is set to open its doors in September 2023. This establishment promises a 9,000-square-foot gaming floor, 445 slot machines, sportsbook kiosks, and offerings like simulcast and live racing. Caesars Entertainment is also on track, with its permanent location slated for a spring 2024 debut.
Nebraska’s temporary casinos have become pivotal contributors to the state’s revenue stream. The dynamic landscape, marked by monthly fluctuations and upcoming permanent establishments, underscores the evolving nature of the industry. As the state continues to navigate the intersection of gambling, taxation, and development, these trends provide valuable insights into the future of Nebraska’s casino landscape.