Lincoln, Lancaster County consider how to spend casino revenue
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THANK YOU, BILL. WELL, NEBRASKA’S FIRST CASINO MADE MORE THAN $1,000,000 IN TAX REVENUE IN JUST THE FIRST 38 DAYS ALONE. AND MOST OF THAT WILL GO TO THE STATE’S PROPERTY TAX RELIEF FUND. BUT LINCOLN AND LANCASTER COUNTY ALSO EACH GET A $100,000 SHARE. ANDREW OZAKI INVESTIGATES HOW THOSE LOCAL GOVERNMENTS PLAN TO THE MONEY IN JUST FIVE WEEKS. LINCOLN WARHORSE CASINOS 433 SLOT MACHINES HAVE PAID OUT $800,000 TO THE NEBRASKA PROPERTY TAX CREDIT FUND, $28,500 TO THE COMPULSIVE GAMBLERS ASSISTANCE FUND, AND $143,000 FOR EACH. THE CITY OF LINCOLN, INLAND CASTRO COUNTY, THIS FIRST MONTH HAS BEEN A VERY NICE NUMBER BUT CHRISTY YOAKUM, THE VICE CHAIR OF THE COUNTY BOARD, SAID THEY WANT TO SEE IF THE CASH KEEPS ROLLING IN. IT’S KIND OF HARD TO KNOW HOW MUCH MONEY THAT BE AND HOW CONSISTENT THAT WILL BE WILL BE COMING IN. WHAT THAT REVENUE STREAM WILL LOOK LIKE. SO WE WANT THE COUNTY WANTS MEET WITH THE CITY TO KIND OF DETERMINE HOW BEST TO USE THOSE FUNDS. THEY ALSO WANT TO KNOW HOW THE CASINO WILL IMPACT KENO REVENUES, WHICH CURRENTLY HELP SUPPORT SEVERAL CITY AND NONPROFIT PROGRAMS. IN A STATEMENT, LINCOLN MAYOR’S CHIEF OF STAFF SAYS, WE ALSO WANT TO ANTICIPATE A PUBLIC ENGAGEMENT PROCESS RELATED TO WHAT OTHER OPTIONS MIGHT OF INTEREST. CASINO OPERATORS BELIEVE CAN BANK ON THE MONEY. I THINK ACTUALLY NOT ONLY ARE WE GOING TO HOLD, BUT I THINK WE MIGHT EVEN DO A LITTLE BIT BETTER AS TIME GOES ON. WAR HORSE MADE OVER $4.27 MILLION OUT OF THE GATE. MUCH OF THAT MONEY WILL GO TO COMPLETE THE $200 MILLION CASINO, HOTEL AND EVENT CENTER AND BUILD UP THE LINCOLN HORSE. THIS IS OUR TINY LITTLE 433 MACHINE FACILITY. WHEN OUR FULL FACILITIES, THAT’S WHEN YOU’RE REALLY GOING TO SEE OUR CONTRIBUTIONS TO TAX RELIEF AND REVENUE FOR THE CITY. LINCOLN AND LANCASTER COUNTY IN LINCOLN. ANDREW OZAKI KETV NEWSWATCH SEVEN. SO ABOUT OMAHA. WELL, THE WAR HORSE HORSEMEN’S PARK IS SLATED TO OPEN ITS TEMPORARY WITH 800 SLOT MACHINES
In just five weeks, the 433 slot machines at Lincoln's Warhorse Casino paid out $800,000 to the state's Property Tax Credit Fund – $28,500 for compulsive gamblers' assistance and $143,000 to each, the city of Lincoln and Lancaster County."This first month has been a very nice number," said Lancaster County Commissioner Christa Yoakum.But Yoakum, who is the vice-chair of the board, said they want to wait and see if cash keeps rolling in at this pace."It's kind of hard to know how much money that will be and how consistent that will be coming in, what that revenue stream will look like. So the county wants to meet with the city to kind of determine how best to use those funds," Yoakum said.They want to see how the casino could impact keno revenues, which currently help support several cities and county non-profit programs.They also want to if state lawmakers repeal or reduce the inheritance tax during the next session."So we don't have any immediate plans for these funds," Yoakum said. Jennifer Willams, Lincoln Mayor Leirion Gaylor Baird's chief of staff, said in a statement they are also evaluating our options."We also anticipate a public engagement process related to what other options might be of interest," Williams said.Lynne McNally, the CEO of the Nebraska Benevolent and Protective Association said they are pleased with revenues."I think actually, not only are we going to hold steady but I think we might even do a little bit better as time goes on," McNally said.Warhorse made more than $4.27 million out of the gate.Much of that money will go to complete the $200 million casino, hotel and event center.Some will go to Ho-Chunk Inc. which runs the casino.And some money will go the to horsemen build up the Lincoln race track."And after that they will be putting money into the purse account, to have better racing in Lincoln," McNally said.Nebraska Racing and Gaming Commission Executive Director Tom Sage said he has already seen an impact in the horse racing industry."Our breed industry in Nebraska for thoroughbreds has tripled. We may be the only state that I'm aware of in the United States. That has a breed increase," Sage said.McNally said this is just the beginning."This is our tiny little a 433-machine facility. When our full facility is open. That's when you're really going to see our contributions to tax relief and revenue for the city of Lincoln and Lancaster County," McNally said.
LINCOLN, Neb. —In just five weeks, the 433 slot machines at Lincoln's Warhorse Casino paid out $800,000 to the state's Property Tax Credit Fund – $28,500 for compulsive gamblers' assistance and $143,000 to each, the city of Lincoln and Lancaster County.
"This first month has been a very nice number," said Lancaster County Commissioner Christa Yoakum.
But Yoakum, who is the vice-chair of the board, said they want to wait and see if cash keeps rolling in at this pace.
"It's kind of hard to know how much money that will be and how consistent that will be coming in, what that revenue stream will look like. So the county wants to meet with the city to kind of determine how best to use those funds," Yoakum said.
They want to see how the casino could impact keno revenues, which currently help support several cities and county non-profit programs.
They also want to if state lawmakers repeal or reduce the inheritance tax during the next session.
"So we don't have any immediate plans for these funds," Yoakum said.
Jennifer Willams, Lincoln Mayor Leirion Gaylor Baird's chief of staff, said in a statement they are also evaluating our options.
"We also anticipate a public engagement process related to what other options might be of interest," Williams said.
Lynne McNally, the CEO of the Nebraska Benevolent and Protective Association said they are pleased with revenues.
"I think actually, not only are we going to hold steady but I think we might even do a little bit better as time goes on," McNally said.
Warhorse made more than $4.27 million out of the gate.
Much of that money will go to complete the $200 million casino, hotel and event center.
Some will go to Ho-Chunk Inc. which runs the casino.
And some money will go the to horsemen build up the Lincoln race track.
"And after that they will be putting money into the purse account, to have better racing in Lincoln," McNally said.
Nebraska Racing and Gaming Commission Executive Director Tom Sage said he has already seen an impact in the horse racing industry.
"Our breed industry in Nebraska for thoroughbreds has tripled. We may be the only state that I'm aware of in the United States. That has a breed increase," Sage said.
McNally said this is just the beginning.
"This is our tiny little a 433-machine facility. When our full facility is open. That's when you're really going to see our contributions to tax relief and revenue for the city of Lincoln and Lancaster County," McNally said.
