Gaming tax revenue from Nebraska racetrack casinos grew
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Gaming tax revenue from Nebraska racetrack casinos continued to grow in September, according to state records.
Racetrack casinos generated a total of $1.582 million in revenue for the state, cities and counties.
That number reflects a 20% tax on the casinos’ total gross revenue for the month of $7.914 million.
The September tax revenue was up from $1.551 million in August and $1.544 million in July.
Three racetrack casinos are currently open in Nebraska: WarHorse Casino in Lincoln, Grand Island Casino Resort in Grand Island and Harrah’s Columbus NE Racing & Casino.
Sports betting revenue at the racetrack casinos rose in September for the second straight month as football season got underway and sports books were open for business at the Lincoln and Grand Island casinos.
While climbing steadily since July, the gross revenue from sports wagering represented a narrow slice — about 3.1% — of the total gross gambling revenue from casinos during the month.
Slots and electronic gaming devices at the casinos brought in nearly 30 times the gross revenue of sports betting, according to state records.
In November 2020, Nebraska voters approved ballot Initiatives 429, 430 and 431 to allow for casino-style gambling at licensed horse tracks.
Initiative 431 imposed a 20% annual tax on gross gaming revenue from games of chance operated at licensed racetrack locations.
In the first nine months of this year, the casinos have generated total gaming taxes of nearly $12.9 million.
Seventy percent of the tax revenue goes to the state’s Property Tax Credit Cash Fund. Twenty-five percent goes to the county where the racetrack is located, and if the racetrack is located partially within a city or a village, the county and city or village split it. The remaining 5% is split between the state’s general fund and the Compulsive Gamblers Assistance Fund.
Legal sports betting kicked off in Nebraska June 22 with the opening of a sports book at WarHorse Casino in Lincoln.
Grand Island Casino Resort in Grand Island launched sports wagering Aug. 23.
Those were the only two racetrack casinos offering sports wagering during September.
Would-be bettors in Omaha still are awaiting the opening of a sports betting window at the Warhorse Casino at Horsemen’s Park near 63rd and Q Streets.
At WarHorse Casino in Lincoln, the gross revenue from sports betting was $180,224 in September, up from $103,285 in August and $82,113 in July.
At Grand Island, gross sports betting revenue was $67,382 in September, up from $2,366 in August, when the sports book there was open for only nine days.
The gross revenue from table games offered at Grand Island outpaced what came in for sports betting.
Table games, like blackjack, craps and roulette, brought in $151,737.
