Nebraska Gaming Revenue Sets a New Record

Article by : Erik Gibbs Sep 23, 2023

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Gambling tax revenue in Nebraska reached an all-time high in August, marking a notable milestone for the state’s gambling industry.

While the increase from the previous record was relatively modest, it underscores a fundamental truth about the betting market. The more gaming options available to visitors, the more likely they are to engage in gambling activities, ultimately leading to increased tax revenue for the state.

July had already seen Nebraska’s gambling tax revenue come close to breaking the previous record, setting the stage for August’s achievement.

This phenomenon can be likened to a horse race, with August narrowly surpassing March’s previous record by a mere $3,312.72, representing an increase of two-thousandths of a percent.

This statistical bump was relatively insignificant despite its technical status as a new record at $1,551,705.66.

To provide further context, the total tax revenue collected in August from each of the state’s racinos, racetracks that offer casino gaming, did not individually break their records for a month.

The Nebraska Racing Commission’s tax report indicates that August ranked as the third-best month ever for tax revenue from WarHorse Lincoln, and it secured the fourth-highest total for Grand Island Casino & Resort. In its third month of operation, Harrah’s Columbus secured the second-highest amount.

In summary, while August marked a new record-high tax payout for Nebraska’s gambling industry, it could be considered a relatively unremarkable month regarding overall gambling performance.

Several potential factors may have contributed to this new tax record. In August, Grand Island Casino made history as the first gambling establishment in Nebraska to offer table games like blackjack legally.

Additionally, the return of University of Nebraska football and WarHorse’s in-person sports betting offerings could have boosted tax revenue.

However, it’s challenging to quantify the exact impact of these expansions on August’s results, as the Nebraska Racing Commission only shares tax information from gaming and needs to provide detailed breakdowns of individual revenue sources within the racinos.

Nonetheless, a consistent trend has emerged, showing a strong correlation between Nebraska’s expansion of gambling options and increased monthly gambling tax revenue. As the state’s gambling landscape continues to evolve, there is a reasonable expectation that gambling tax revenue will grow.