WarHorse Gaming, the dynamic casino operator owned by the Winnebago Tribe of Nebraska, has secured a substantial $300 million refinancing agreement, setting the stage for an ambitious expansion plan. This financial boost will facilitate the development of a new casino in South Sioux City and significant upgrades to its existing facilities in Omaha and Lincoln, Nebraska.
The financing arrangement was swiftly completed in the pro rata financial market, finalized in less than a month with the collaboration of US Bank, Capital One, KeyBank, The Huntington National Bank, BOK Financial, and Comerica Bank. Lance Morgan, CEO of Ho-Chunk, Inc., the parent company of WarHorse Gaming, expressed that the rapid completion of this deal is a testament to the trust and value that banking partners place in the company’s vision and potential. Morgan noted with satisfaction that having such support is crucial as they embark on this significant growth phase.
The refinancing deal is a crucial step in WarHorse Gaming’s ongoing efforts to expand its state-regulated casinos located at Nebraska’s horse racetracks in the prominent cities of Omaha and Lincoln. With the construction of a third WarHorse Casino set to begin in South Sioux City next summer, the company’s expansion plans are well underway. The anticipated growth in Lincoln will include expanded gaming areas, more table games, a new steakhouse, and a premium sports bar, all slated for completion by spring 2026. Meanwhile, the recent expansion of WarHorse Omaha, which began welcoming guests in April, has already noted strong visitor growth and heightened interest.
In 2025 alone, WarHorse Gaming has reported generating over $94 million in gaming revenue, according to figures from the Nebraska Racing and Gaming Commission. The company has also contributed approximately $22.5 million in gaming taxes, a significant portion of which is allocated toward property tax relief, as stipulated by state regulations.
WarHorse Gaming’s leadership remains committed to the company’s Nebraska roots, emphasizing the importance of providing a premier gaming experience while fostering investment in local communities and supporting the Winnebago people. The company believes that its operating cash flow could potentially double by 2026, driven by its comprehensive expansion strategy. With enhanced entertainment offerings, larger facilities, and a robust commitment to reinvesting in Nebraska’s economy, WarHorse Gaming anticipates increased engagement and benefits across the state, potentially transforming the regional gaming industry for the foreseeable future.
A significant aspect of WarHorse Gaming’s strategy includes advocating for changes to Nebraska’s gambling laws to introduce mobile sports betting. Just last month, the company led an initiative encouraging voters to approve an amendment to the state constitution that would enable betting via smartphones and online platforms. This move signals WarHorse Gaming’s commitment to modernizing the state’s gaming landscape and providing more accessible options for patrons.
However, not everyone shares the same enthusiasm for the rapid expansion and changes proposed by WarHorse Gaming. Some critics argue that the proliferation of gambling options could lead to increased risks associated with problem gambling and economic disparity among local communities. They caution that while the economic benefits are tempting, the social costs must also be considered and carefully managed. This perspective highlights the ongoing debate surrounding the balance between economic growth and social responsibility within the gambling industry.
Despite these concerns, WarHorse Gaming remains optimistic about its plans and the positive impact they could have on Nebraska’s economy. The company positions itself as a key player in shaping the future of gaming in the region, committed to creating sustainable growth and opportunities for Nebraskans. As the expansion progresses, all eyes will be on WarHorse Gaming to see how effectively it navigates the challenges and opportunities that lie ahead.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
