On June 1, the Nebraska Racing and Gaming Commission approved the fee structure for gaming licenses. WarHorse Gaming and its partner, the Nebraska Horsemen’s Benevolent and Protective Association, immediately submitted a license application for proposed casinos in Lincoln and Omaha.
The applications come nearly 19 months after voters approved casino gaming at the state’s horse racing tracks. The commission approved gaming rules in December and a few weeks ago Governor Pete Ricketts signed off on the rules; previously he worked against efforts to allow casino gambling.
The license fee, good for five years, will be $5 million, including $1 million due at the time of application and $1 million per year thereafter. Gaming-related vendors will have to pay a total of $9,000 for a 3-year license. Tom Sage, executive director at the Racing and Gaming Commission, said approving the fees is “the next step” in the casino gaming startup process. “This is huge for our state,” he said.
Lance Morgan, chief executive officer at Ho-Chunk Inc., parent company of WarHorse Gaming, said, “The commission has done a phenomenal job in creating a comprehensive regulatory standard for an entirely new industry within the state. We are extremely excited the time has come for us to submit our application and begin the process of bringing world-class casinos that all Nebraskans can be proud of.”
Lynne McNally, chief executive officer at the Nebraska Horsemen’s Benevolent and Protective Association, which is partnering with Ho-Chunk, said, “We’ll be under full construction at both locations and that will be an 18 to 24-month process, but we can open a transitional facility at both Lincoln and Omaha so we’re hoping to have those up and ready in a few months.”
She added, “We’ll always have simulcasting on the infield. The main building itself will be completely closed. They’re going to gut the whole thing and start from scratch, so we’ll have continuous simulcast activity on temporary buildings in the infield of the track.”
WarHorse officials said the $220 million Lincoln casino most likely will open first, with 1,300 gaming stations, a 196-room hotel, event space, several restaurants and live horse racing. Both the Lincoln and Omaha venues will offer temporary facilities, with 400 slots at Lincoln and 800 at Omaha. These could open later this summer, McNally said.
McNally also said WarHorse is looking to borrow $560 million to finance construction of its casinos, which also will include one in South Sioux City.
Fonner Park in Grand Island also is planning a temporary casino with about 200 slot machines, expected to open this fall. Other Nebraska tracks in Columbus and Hastings also plan to build casinos.
