WarHorse Casino in Lincoln has been a financial boon for Nebraska, delivering nearly $12 million in gaming taxes to the state in 2024. This substantial contribution, tied to $59 million in total revenue, showcases the growing impact of the gaming industry, with sports betting playing a key role in this surge.
A Big Year for Lincoln’s Gaming Scene
The numbers tell a compelling story of growth. WarHorse Casino recorded $59 million in revenue in 2024, marking a significant leap since its opening in 2022. In its debut year, the casino generated $2.7 million in gaming taxes, which grew to $10.3 million in 2023. The upward trend continued last year, with nearly $12 million collected.
Sports betting stood out as a major driver. Taxes from this segment contributed heavily to the state’s Property Tax Credit Fund, which received $8.4 million from Lincoln alone. Statewide, contributions to the fund reached an impressive $20.4 million.
Where the Taxes Went
Gaming taxes from WarHorse Casino were allocated across multiple funds, each addressing key state priorities:
- Property Tax Credit Fund: As the primary recipient, this fund garnered significant attention for its role in offsetting local tax burdens.
- Other State Initiatives: Smaller portions of the revenue were directed to additional public projects, ranging from education to infrastructure improvements.
The casino retained 80% of its revenue for operational costs and future development, leaving 20% to bolster public funds.
Statewide Contributions and Context
While Lincoln shone brightly with its $12 million contribution, Nebraska’s total gaming tax revenue reached over $29 million in 2024. This was driven by a combination of new casinos opening across the state and the increasing popularity of sports betting.
In comparison, statewide contributions to the Property Tax Credit Fund totalled $20.4 million, showing that Lincoln accounted for nearly half of this key revenue source. As more Nebraskans engage in legalised gambling, these figures highlight the potential for further growth.
Historical Revenue Trends and Growth Potential
The growth trajectory of Lincoln’s gaming tax contributions reflects broader trends in the industry. From its humble start in 2022 with just $2.7 million, WarHorse Casino’s tax contributions have grown exponentially year over year.
What’s driving this rapid expansion? Key factors include:
- Increased Accessibility: Expanded gaming options, particularly in sports betting, have attracted more visitors.
- Economic Recovery: Post-pandemic recovery has brought higher consumer spending, benefiting leisure and entertainment sectors.
- Community Engagement: A steady focus on promoting responsible gaming has enhanced public trust.
Looking Ahead: The Future of Gaming in Nebraska
Nebraska’s gaming sector appears poised for further expansion. New casinos are slated to open in 2025, and legislative discussions around additional gaming options are gaining momentum. If current trends persist, gaming taxes could become an even more significant source of public funding.
Industry analysts predict that Lincoln’s WarHorse Casino will continue to be a leader, potentially setting new benchmarks in revenue and tax contributions in the years ahead.