- Details
- By Tribal Business News Staff
- Finance
WarHorse Gaming, LLC, Nebraska’s largest casino operator, has refinanced $300 million in startup loans with a new five-year deal that will fund ongoing expansions and the construction of a third casino.
The refinancing was arranged in less than a month by U.S. Bank, according to a statement, with participation from Capital One, KeyBank, The Huntington National Bank, BOK Financial, and Comerica Bank.
“This rapid refinancing shows our bank partners value what we’re doing, and see the great potential ahead,” said Lance Morgan, CEO of Ho-Chunk, Inc., the parent company of WarHorse Gaming.
Proceeds will support expansion of WarHorse’s existing casinos at horse racetracks in Omaha and Lincoln, along with a new South Sioux City property slated to break ground next summer. In Lincoln, a major expansion set for spring 2026 will add gaming machines, table games, a steakhouse, and a sports bar. Omaha’s expanded casino opened in April and continues to drive strong visitation.
WarHorse Gaming has generated $94.8 million in gaming revenue year to date, according to the Nebraska Racing and Gaming Commission. Gaming taxes have totaled $22.5 million, most earmarked for property tax relief. The company said it expects to double operating cash flow in 2026.
Owned by the Winnebago Tribe of Nebraska through Ho-Chunk, Inc., WarHorse Gaming is a product of the state’s 2020 voter-approved expansion of casino gaming at licensed horse tracks.
