Nebraska’s Equus caballus raceway sector is right-sized and the information doesn’t reenforcement the want to emerge any to a greater extent racing licenses. That’s according to a new independent report commissioned by the commonwealth Racing and Gaming Commission that could position the kibosh on further casino elaboration inwards the state.
Lawmakers asked the charge to examine the state’s gymnastic horse racing and cassino markets and their socioeconomic impact, to follow repeated every fivesome years. That’s after Nebraska voters legalized casino gaming past approbative the state’s Racetrack Gaming Act inwards a 2020 ballot.
The voter turnout amended the body politic makeup to allow commercial casinos at the state’s vi licensed racetracks. The new natural law fastened potentially lucrative gambling casino gaming to gymnastic horse racing, a less remunerative industry. This means any operator who wants to move into the casino securities industry will for the first time demand to build or acquire a track and pull in a racing licence from the state.
Protecting the Market
There’s no more need for any more racetracks, according to the report, which has been viewed by The Abraham Lincoln Journal Star. The researchers asseverate in that location is “more than sufficient content with the state’s existing Captain Hicks racing licenses to permit for a tripling or quadrupling of racing inward Nebraska,” as quoted past the Journal Star.
By law, the Racing and Gaming Commission is required to weigh the possible socioeconomic wallop of certify applications. It is mandated to refuse those that could be detrimental to the health of the existing market.
That’s potentially bad word for operators with an optic on Nebraska, who had already been prevented from applying for licensing before the report’s publication.
Chief among these may follow John Lackland Hassett, chairwoman of Aksarben Equine, who is in arrears a send off to establish a $150 jillion racetrack inward the city of Bellevue, component of the Omaha-Council Bluffs metropolitan area.
According to the report, the Bellevue locale would eat on into the revenue of existing licensees, in particular the WarHorse gambling casino in Omaha. The gambling casino is currently being reinforced at Omaha’s Horsemen’s Park by Ho-Chunk Inc., the economic evolution fortify of the Winnebago Tribe of Nebraska.
Of the $60.7 meg inward revenue the consider estimates the Belleview cassino would generate, $38.5 million would follow from other operators. Some $27.4 meg of that would amount from the Warhorse, the contemplate said.
Room for More?
Hassett told the Journal-Star he believes a permit should only be rejected if a send off is detrimental to the state’s boilersuit market, kind of than just now one operator. He also noted that neighboring IA has 19 casinos and a population of 3 million, whereas Cornhusker State has just now vi casinos and a population of 2 million.
I don’t cogitate the maximum is six. I imagine there’s in all probability way for several more, a couple come out west, and I reckon there’s plenty of room for Bellevue,” he said.
Lance Morgan, CEO of Ho-Chunk Inc., disagrees.
“This consider kills Bellevue,” he argued. “… The existing tracks are the ones that struggled and survived and pose upwardly the money and the time and elbow grease to create the industry.”
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