WarHorse Gaming Secures $300M Deal to Boost Expansion Across Nebraska
Major Investment Boost for WarHorse Gaming in Nebraska
WarHorse Gaming, recognized as Nebraska’s foremost casino operator and the economic development entity of the Winnebago Tribe of Nebraska, has successfully secured a $300 million refinancing agreement. This substantial financial milestone is set to support the company’s aggressive expansion plans, including launching a new casino in South Sioux City and implementing significant upgrades at their existing venues in Omaha and Lincoln.
Details of the New Casino Initiative and Facility Enhancements
The refinancing deal was finalized rapidly, taking less than a month, with major contributions from several financial institutions including US Bank, Capital One, KeyBank, The Huntington National Bank, BOK Financial, and Comerica Bank. Lance Morgan, CEO of Ho-Chunk, Inc.—the parent organization of WarHorse Gaming—highlighted the quick closure of the deal as a testament to the confidence these financial partners have in WarHorse Gaming’s vision and potential for growth.
With this funding, WarHorse Gaming is set to expand its network of state-licensed casinos situated at horse racetracks in Nebraska’s largest urban centers, Omaha and Lincoln. Construction for the third WarHorse Casino is planned to commence next summer in South Sioux City. Expansion plans for WarHorse Lincoln, scheduled for spring 2026, include enlarged gaming areas, more table games, a new steakhouse, and a premium sports bar. The recent expansion of WarHorse Omaha, which opened in April, continues to attract increasing visitations and revenue.
Strong Performance and Forward-Looking Growth in 2025
In the current year, WarHorse Gaming has already brought in over $94 million in gaming revenue, as reported by the Nebraska Racing and Gaming Commission. The gaming-related taxes from the company have contributed approximately $22.5 million, with a significant portion allocated to property tax relief as mandated by state legislation.
WarHorse Gaming is also a strong proponent of updated gambling legislation in Nebraska that could introduce mobile sports betting. Recently, the company led a statewide initiative encouraging voters to amend the state constitution, enabling residents to place bets via smartphones and online platforms—potentially opening a new chapter for the state’s gaming industry.
The leadership of WarHorse Gaming proudly emphasizes its Nebraska roots and ownership. The company is deeply committed to delivering exceptional entertainment experiences while reinvesting in local communities, the state’s economy, and the Winnebago people. Looking ahead, WarHorse Gaming expects its operational cash flow to potentially double by 2026 due to these expansion efforts. With expanded entertainment offerings and larger facilities, their investments are poised to enhance local participation and reap significant statewide benefits, potentially transforming the regional gaming scene for the foreseeable future.
