- Nebraska’s legal sports betting rules have been approved by the Office of the Attorney General.
- The Nebraska Racing and Gaming Commission estimates that the state could launch legal sports betting with the start of March Madness.
- Nebraska’s temporary casinos in Lincoln and Fonner Park generated $2.8 million in tax revenues during 2022.
With two temporary currently operating in the state, Nebraska is nearing its legal sports betting launch.
Per Nebraska Racing and Gaming Commission Executive Director Tom Sage, the rules for legal sports betting in the state have been approved by the Office of the Attorney General. The framework for the sports betting rules was greenlighted by the Gaming Commission last October.
As revenue from slot machine players continues to roll in, Nebraskans are a small step closer to placing the first legal sports wagers in the state. https://t.co/wXM9IgpVg1
— The Grand Island Independent (@theindependent) January 15, 2023
The rules will be sent to the Office of the Governor this week for his signature. If Gov. Jim Pillen puts his signature on the paper, the rules will be presented to the Office of the Secretary of State and sports betting could get legalized a week after that.
Given the remaining steps it needs to go through before finalization, Sage says that it may be unlikely that legal Nebraska sports betting will be ready before next month’s Super Bowl LVII. However, the Cornhusker State will likely capitalize on the NCAA Men’s Basketball Tournament in March, with the possibility that it will time its launch with March Madness.
$2.8 Million in Tax Revenues in 2022
Meanwhile, the state’s two temporary casinos in Lincoln and Fonner Park generated $856,000 in tax revenues during December 2022 and a total of $2.8 million in tax revenues for 2022. According to the Commission, the bulk of that amount was produced by WarHorse Lincoln which has been open since September.
The interim Grand Island Casino at Fonner Park opened only last December 27th and was able to contribute $97,000 worth of taxes during its first five days of operations. According to Sage, Grand Island then went on to generate $127,000 in gaming taxes during the first week of January 2023. While business seems to be doing just fine at Grand Island, WarHorse Lincoln’s numbers went down for the third straight month.
The temporary Lincoln casino produced just $759,000 in gaming taxes for December 2022. That amount was a decrease from the $818,000 generated in November 2022 and $854,000 in October 2022, the casino’s first full month of operations. The Commission however noted that WarHorse Lincoln made $227,000 during the first week of January 2023.
Per state law, Nebraska Casinos are levied a tax rate of 20% of revenues. 70% of the tax will go to the state’s property tax relief fund. The casino’s host city and county will each get a 12.5% share of the taxes and the state’s general fund and problem gaming fund will equally divide the remaining 5%.
Nebraska’s Two Interim Casinos
The WarHorse Casino at the Lincoln Race Course in Lincoln, Nebraska is the first casino to open in the Cornhusker State. The casino is owned by WarHorse Gaming, an entity established by Ho-Chunk Inc., the economic arm of the Winnebago Tribe of Nebraska and the Nebraska Horsemen’s Benevolent and Protective Association.
Due to limited space, the interim WarHorse Lincoln Casino only has 433 slot machines currently operating. The permanent Lincoln casino, however, is expected to carry 1,300 slot machines, 100 table games, a retail sportsbook, a 200-room hotel, an events space, and will feature live horse racing. It is expected to open this coming September.
On the other hand, the temporary Fonner Park casino located at the former concourse area of Fonner Park had approximately 260 slot machines when it debuted last December 27th. The facility also has betting kiosks for live and simulcast horse racing, a small snack area, and a club for its owner Elite Casinos. It is projected to operate for one to three years, with the construction of the permanent casino still being anticipated for later this year.
The permanent Grand Island Casino at Fonner Park will be a much bigger gaming property with a 37,500 square foot gaming area, 650 slot machines, 25 table games, a retail sportsbook, and a 116-room boutique hotel. The upcoming casino will also have four restaurants, a show lounge, a sports bar, a salon and spa, a gift shop, an indoor and outdoor pool with an expansive deck, and a 400-slot parking area.The casino is jointly owned by Fonner Park and Elite Casino Resorts.
