WarHorse Gaming Secures $300 Million Refinancing for Expansion and New Casino Development
A Bold Move in Nebraska’s Gaming Landscape
WarHorse Gaming, LLC, known as Nebraska’s largest casino operator, has recently made headlines by securing a significant refinancing deal worth $300 million. This strategic move is not just about financial restructuring; it marks a pivotal step toward enhancing its presence in the state’s burgeoning gaming industry. With a new five-year agreement arranged by U.S. Bank and supported by notable institutions such as Capital One, KeyBank, The Huntington National Bank, BOK Financial, and Comerica Bank, WarHorse Gaming is poised for expansion and development.
Rapid Refinancing: Trust from Financial Partners
The refinancing process was executed in less than a month, reflecting the robust relationships WarHorse Gaming has fostered with its banking partners. “This rapid refinancing shows our bank partners value what we’re doing, and see the great potential ahead,” remarked Lance Morgan, CEO of Ho-Chunk, Inc., the parent company of WarHorse Gaming. This trust is indicative of the confidence investors have in the casino operator’s vision and growth trajectory.
Funding Expansion Efforts
The proceeds from this refinancing deal will be instrumental in driving the expansion of WarHorse’s existing casinos located at horse racetracks in Omaha and Lincoln. Additionally, a new property in South Sioux City is on the horizon, set to break ground next summer—a clear indicator of WarHorse’s commitment to diversifying and enhancing the entertainment landscape across Nebraska.
Major Developments in Lincoln and Omaha
In Lincoln, a substantial expansion is planned for spring 2026, anticipated to introduce a broader array of gaming options, including more gaming machines, table games, a steakhouse, and a sports bar. This expansion is expected to elevate the casino experience, drawing in more patrons and invigorating the local economy.
Meanwhile, Omaha’s expanded casino, which opened in April, is already showing promising results with strong visitation rates. This reflects WarHorse Gaming’s successful execution of its growth strategies and its ability to adapt to the needs of its clientele.
Growing Financial Footprint
The financial statistics surrounding WarHorse Gaming underscore its rapid growth. As reported by the Nebraska Racing and Gaming Commission, the company has generated approximately $94.8 million in gaming revenue year-to-date. This impressive figure translates into $22.5 million in gaming taxes, a significant portion of which is earmarked for property tax relief—benefiting local residents and communities.
WarHorse Gaming has ambitious plans for the future, with expectations to double its operating cash flow by 2026. These projections not only highlight the casino operator’s growth potential but also signify the rising popularity of casino gaming in Nebraska following its 2020 voter-approved expansion.
Legacy and Community Impact
WarHorse Gaming operates under the auspices of the Winnebago Tribe of Nebraska, providing a unique and culturally rich context to its operations. The casino’s inception is rooted in the state’s strategic decision to expand gaming at licensed horse tracks, fostering a new era of entertainment and economic growth.
With ongoing expansions and new properties on the horizon, WarHorse Gaming is not just reshaping the casino landscape in Nebraska; it is also fostering community development and enhancing local economies.
Through strategic financial maneuvers and diligent expansion plans, WarHorse Gaming continues to position itself as a leader in the Midwestern gaming scene, promising a vibrant future filled with opportunities for entertainment and community enrichment.