Posted on: November 5, 2024, 09:24h.
Last updated on: November 5, 2024, 09:34h.
WarHorse Casino Lincoln kicked off the week on Monday by opening phase two of its permanent casino floor and bringing new gaming offerings to the facility.
Officials with WarHorse Gaming and Ho-Chunk Inc., the commercial arms of the Winnebago Tribe of Nebraska, announced on Monday that the Lincoln racino more than doubled the number of available slot machines and introduced live dealer table games.
The expansion took the number of slots from about 400 to 830 machines. Ten table games offer blackjack, roulette, and mini-baccarat. More than 100 simulcast screens have also been turned on with the added space — spots where parimutuel bettors can watch an array of live horse racing from around the world. The Lincoln casino also offers sports betting.
Lance Morgan, CEO of WarHorse, said the second development phase additionally includes more restaurant seating. The tables are expected to have the greatest impact on the casino’s business.
A lot of people, when they think of Las Vegas-style gambling, they think of table games. We’ve been open for two years with only enough room for slot machines, but we now have 10 table games,” added Lynne McNally, CEO of the Nebraska Horsemen’s Benevolent and Protective Association (NHBPA).
The NHBPA owns three horse racetracks in Omaha, Lincoln, and South Sioux City. After Nebraska voters authorized state-licensed racetracks to become casinos through a statewide ballot referendum in 2020, the NHBPA partnered with Ho-Chunk and WarHorse to develop the tracks into racinos.
Slow Out of the Gate
Nebraskans backed the 2020 gaming initiative to help ease property taxes.
Gross gaming revenue (GGR) at racetrack casinos is subject to a 20% tax, with 70% of the tax benefit going to the Nebraska Property Tax Credit Fund and 25% to the counties where gambling occurs. The remaining 5% is split between the state’s Compulsive Gamblers Assistance Fund and the General Fund.
Morgan and McNally say construction at Warhorse Casino Lincoln has gone slower than planned because of the pandemic and subsequent high costs incurred by inflation. That’s delayed residents from experiencing the promised property tax relief.
With phase two complete, the casino being an extension of the racetrack grandstand at the newly named Legacy Downs at WarHorse Casino Lincoln, construction moves to the property’s forthcoming hotel. The third and final phase includes a 200-room hotel, convention space, and additional restaurants.
WarHorse Leads State
WarHorse Gaming and the NHBPA finished their first casino in Nebraska in August when they opened WarHorse Casino Omaha at Horsemen’s Park. The property features about 800 slots, 19 live dealer table games, 100 simulcast screens, and a sportsbook. There aren’t currently plans to bring a hotel to the racetrack.
WarHorse Omaha was the second permanent casino to open in Nebraska after Harrah’s Columbus, NE, Racing & Casino, which opened in May. The future Grand Island Casino Resort at Fonner Park is operating a temporary casino until the permanent resort opens next year.
Through September, WarHorse Lincoln generated GGR of approximately $41.3 million. WarHorse Lincoln won about $13.6 million off of players for a combined haul of $54.9 million for the two WarHorse casinos.
Statewide GGR at the four casinos totaled $94.2 million, meaning WarHorse and the NHBPA control about 58% of the Nebraska casino industry. The partnership’s dominance could expand should they decide to build and open a third casino in South Sioux City.
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