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Nebraska’s Nearly $1.6M Gaming Tax Revenue Up 2% In September

Gaming tax revenue from  Nebraska’s three racinos  (racetracks that also host casino gaming) continued to increase in  September , according to state regulators.
The Nebraska Racing Commission tax report shows racetrack casinos generated $1.58 million in tax revenue for the state, cities and counties. That number reflects a 20% tax on the casinos’ total gross revenue for the month of  $7.91 million .
Three racetrack casinos are currently open in Nebraska:

WarHorse Casino in Lincoln
Grand Island Casino Resort in Grand Island
Harrah’s Columbus NE Racing & Casino

However, only WarHorse Casino Lincoln and Grand Island Casino Resort offer sports betting.
Nebraska sports betting revenue rises for two consecutive months
Sports betting revenue at the Nebraska racetrack casinos increased in September for the second month in a row. It is partly due to the busy football season, as well as sportsbooks opening their doors at the Lincoln and Grand Island casino locations.
The September tax revenue total ($1.58 million) represents:

2.0% increase from the $1.55 million generated in August
2.46% rise from $1.54 million set in July

70% of Nebraska tax revenue goes to Property Tax Credit Cash Fund
Since the beginning of the year, Nebraska racinos have generated total gaming taxes of almost $12.87 million , the Nebraska Racing Commission tax report shows. Each month, Nebraska regulators distribute gaming tax revenue as follows:

70% of the tax revenue goes toward the state’s Property Tax Credit Cash Fund
25% of tax revenue goes to the city or county where the racetrack is located (if the racetrack is located partially within a city or a village, the county and city or village split the amount)
5% gets split between the  state’s general fund  and the  Compulsive Gamblers Assistance Fund

In terms of revenue amount, here’s how the total gaming tax was split throughout September:

State General Fund: $39,572.65
Compulsive Gamblers Assistance Fund: $39,572.65
Property Tax Credit Cash Fund: $1,108,034.19
City share: $197,863.26
County share: $197,863.26
Total gaming tax received: $1,582,906.01

September figures reflect earnings from two Nebraska casinos
WarHorse Casino in Lincoln and Grand Island Casino Resort were the only two racetrack casinos offering sports betting during September.
With the  opening of WarHorse in Lincoln , Nebraska launched legal sports betting on June 22. Grand Island Casino Resort started accepting sports wagers two months later, on Aug. 23.
Gaming enthusiasts in Omaha must wait for the opening of the Warhorse Casino at Horsemen’s Park near 63rd and Q Streets.
Throughout September, Nebraska casinos’ gross revenue from sports betting totaled:

WarHorse Casino Lincoln:  $180,224.47  (up from August’s $103,285 and July’s $82,113).
Grand Island:  $67,382.46 (significantly up from $2,366 in August, with only nine days of operation)

Nebraskans approved ballot Initiatives 429, 430 and 431 in November 20202 to allow casino-style gambling at casinos. Initiative 431 enforced a 20% annual tax on gross gaming revenue from “games of chance” operated at licensed racetrack locations. The post Nebraska’s Nearly $1.6M Gaming Tax Revenue Up 2% In September appeared first on Play USA . always shares this Contents with License.

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