Nebraska is planning to set up casinos in Omaha and Lincoln. The development projects got a boost after they received provisional licenses, thus rendering the Warhouse Casino Lincoln artistry.
The two casinos are in their pre-construction phase after Nebraska’s Racing and Gaming Commission issued their licenses. Warhouse Gaming is less than a year old and was formed after the Nebraska Horsemen’s Benevolent and Protective Association (NHBPA) and the Ho-Chunk Inc., the Winnebago Tribe of Nebraska’s hospitality and gaming unit collaborated.
Warhouse intends to spend $560 million to change the horse racetracks in Omaha, South Sioux City, and Lincoln to full-fledged casinos that have sports gambling, table games, and slot machines. A resort hotel having several amenities will accompany the Lincoln project.
Nebraskans voted for commercial betting in the November 2020 election through a ballot referendum. It amended the state’s constitution to allow casinos to operate in its six registered racetracks.
Lincoln and Omaha Are Ready
Warhouse Gaming agreed with the NHBPA to transform its three racetracks into casinos. Lance Morgan, Warhouse Gaming Chief Executive Officer, stated this week that they will begin the Omaha and Lincoln projects. The provisional gaming licenses prompt the Nebraska Racing and Gaming Commission concessions to permit Warhouse to start sourcing funds for the casinos.
The gaming company is ready to invest $220 million in transforming the Lincoln Race Course into Warhouse Casino Lincoln. Its blueprint features a bookie, casino with different table game positions and 1,300 slot machines, event space, many restaurants, a simulcast horse racing venue, and a 196-room hotel.
Warhouse Casino Omaha will be located at Horsemen’s Park and have three restaurants, a food court, simulcast and live horse racing, and 1,600 gaming slots. Even so, its current blueprint lacks a hotel.
The Nebraska Racing and Gaming Commission stated that the provisional licenses it recently gave out will enable gaming operators such as Warhouse to secure finds and start constructing casinos. But the concessions don’t allow their applicants to start offering casino games.
Instead, they assure lenders that Nebraska will give the entities full operating licenses soon.
Morgan said in a press release that they appreciate the commission’s swiftness in handling the issue and giving them the provisional licenses.
They are eager to start the construction project to create more jobs in the state and earn revenue. Yet, the state’s gaming regulators claim that Warhouse will get its operating license in three months.
Which Rules Were Approved?
Nebraska Governor Pete Ricketts (R) advised voters to oppose the 2020 betting referendum. But he signed the proposed rules that started regulating table games, sports gambling, and slot machines from December 2021. The Nebraska Racing and Gaming Commission fully incorporated them on June 2, 2022.
The new regulations require each legal casino in Nebraska to pay $1 million each year to the state as licensing fee. The state will tax casinos 20 percent of their gross gaming revenue (GGR) and direct most of the revenue to its Property Tax Credit Cash Fund. Also, casinos will support Nebraska’s General Fund as they host counties that have legalized gambling.
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