Nebraska Racing Report Suggests No Need for New Licenses

Nebraska residents voted in favor of a ballot initiative some years ago, connecting the state's racetracks to casino development. This move streamlined the process for gambling companies seeking to establish and operate casinos in Nebraska by requiring them to secure approval for a racetrack. Presently, there are six existing racetrack licensees in the state.

According to a report prepared by The Innovation Group of New Orleans for the Nebraska Racing and Gaming Commission, there's no need for additional racing licenses. The study found that the current racetrack license holders possess more than enough capacity to significantly expand the racing sector in the state. The report explicitly states, "The data do not support the addition of more racing licenses."

These findings may pose a challenge to casino developers interested in entering the Nebraska market. However, to ensure fairness and competition, Nebraska has established stringent rules governing the racing and casino sector. The state's gambling regulator must evaluate the potential impact of new horse racetracks and casinos on the existing market before approving or rejecting proposals.

Six existing racetracks in Nebraska are eligible for a casino license, including locations in Grand Island, Lincoln, South Sioux City, Omaha, Hastings, and Columbus. WarHorse Casino in Lincoln became the first brick-and-mortar casino to open its doors to visitors.

The report also examined the potential impact of a proposed casino and racetrack in Bellevue on the state's gambling market. While such a venue could boost Nebraska's gambling revenue, it may also affect the earnings of the existing racetracks.

The Nebraska Racing and Gaming Commission is set to review the report during its upcoming meeting on January 19. Chairman Denny Lee confirmed that the study's results would be discussed during the meeting and emphasized that the report is not final and may undergo revisions.