Editorial Brief: Nebraska | News

Lincoln Journal Star. November 27, 2022.

Editorial: After one month, the casino shows revenue potential

In 2020, supporters of the initiative that would allow casinos at the state’s horse tracks made a compelling case that offering gambling there would keep the wagered money and tax dollars it generates in Nebraska, rather than see it cross missouri river to iowa casinos.

After only one month of operation of a casino, this prediction is confirmed – in the millions.

Lincoln’s WarHorse Casino, which opened in late September, generated just over $854,000 in gambling tax revenue in October, according to information released by the Nebraska Racing and Gaming Commission.

The state gaming tax is 20 percent of revenue, which means WarHorse earned about $4.27 million last month. Assuming an average payout of 90%, the industry standard, that means visitors dropped nearly $43 million last month, or nearly $1.4 million per day on WarHorse slots.

Across the river in Council Bluffs, the Iowa Racing and Gaming Commission reported that players spent about $320 million in October on slot machines at Ameristar, Harrah’s and Horseshoe casinos. That’s down from $331 million in September and $339 million in October 2021.

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