WarHorse Gaming Locks $300 Million Deal to Fuel Nebraska Casino Expansion

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Nebraska’s top casino operator, WarHorse Gaming, has secured a $300 million refinancing deal to fuel major expansions at its existing properties and launch a new casino in South Sioux City. The rapid financing reflects significant confidence from major banks and marks a new chapter for gaming in Nebraska under tribal leadership.

Key Takeaways

$300 million in refinancing arranged in less than a month.
Funds will expand casinos in Omaha and Lincoln and build a new casino in South Sioux City.
Deal organized by U.S. Bank, with major partners including Capital One, KeyBank, and others.
WarHorse Gaming is owned by the Winnebago Tribe of Nebraska.

Rapid Financing Reflects Confidence In Growth

The five-year refinancing package was put together swiftly by U.S. Bank alongside several other prominent banks. This financial vote of confidence allows WarHorse Gaming to immediately proceed with upgrading its Omaha and Lincoln casinos, as well as finalize plans for the new South Sioux City venue, set to break ground by summer next year. The ability to lock in such significant funding in less than a month illustrates a strong endorsement by the financial community of WarHorse’s business model and future prospects.

Major Expansions Planned For Omaha And Lincoln

The Omaha WarHorse Casino recently unveiled new features in the spring, driving continued visitor growth. In Lincoln, a highly anticipated expansion will begin in spring 2026, adding more gaming machines, live table games, a premium steakhouse, and a high-end sports bar. These improvements are expected to attract a broader audience and enhance the entertainment experience in Nebraska’s two largest cities.

New Casino Coming To South Sioux City

The highlight of this financing milestone is the construction of WarHorse Gaming’s third casino in South Sioux City. Scheduled to break ground next summer, the new property represents a major investment in northeast Nebraska. It follows the state’s 2020 decision, approved by voters, to expand casino gaming at licensed horse racetracks. The new casino is expected to create jobs, boost tourism, and contribute to the regional economy.

Impact On Revenue And Community

WarHorse Gaming has quickly become one of the state’s economic powerhouses, generating $94.8 million in gaming revenue so far this year, according to the Nebraska Racing and Gaming Commission. Of the $22.5 million in gaming taxes generated to date, the majority is earmarked for property tax relief, providing a direct benefit to Nebraskan communities. Company officials are optimistic, projecting a doubling of operating cash flow by 2026.

Tribal Ownership With Community Focus

Owned by the Winnebago Tribe of Nebraska through Ho-Chunk, Inc., WarHorse Gaming stands out as a Nebraska-grown and tribally owned enterprise. Ho-Chunk, Inc., created 30 years ago to foster economic self-sufficiency for the tribe, has become a model for indigenous economic and community development, investing profits back into jobs, infrastructure, and social programs for the Winnebago people and the broader region.

Looking Ahead

With this new financing, WarHorse Gaming is positioned to extend its leadership in Nebraska’s casino industry, offering enhanced gaming opportunities while supporting property tax relief and tribal community initiatives. The expansion promises to bring continued growth, economic benefits, and world-class entertainment to the Cornhusker State.