Nebraska’s casino market, which saw a significant shift with the legalization of casino gaming at state racetracks in 2020, is now at a crossroads with new developments and potential constraints on expansion. The latest proposal from KRG Investment Group for a new horse-racing and casino facility in Fremont adds to the growing list of operators aiming to capitalize on Nebraska’s evolving gaming landscape.
On Friday, KRG representatives presented their vision to the Nebraska Racing and Gaming Commission (NRGC), discussing the early stages of their plan with Fremont city officials. The proposal, which includes a hotel casino, is in line with Nebraska’s mandate that all casino developments must accompany live horse racing. This requirement stems from the 2020 constitutional amendment allowing commercial casinos at the state’s six licensed racetracks.
Currently, Nebraska has six racetracks eligible for casino development: Legacy Downs in Lincoln, Fonner Park in Grand Island, Horsemen’s Park in Omaha, Atokad in South Sioux City, FairPlay Park in Hastings, and Columbus Exposition and Racing in Columbus. Four of these venues have already launched temporary gaming facilities while their main casinos are under construction.
The proposed Fremont project, if approved, would join other new initiatives in Bellevue, Norfolk, York, North Platte, Gering, and Kimball, marking it as the seventh potential racing and gaming facility in Nebraska. However, a recent independent market study, requested by the NRGC, suggests that the state’s current racing licenses are sufficient to support a significant increase in racing activities, casting doubt on the necessity of additional licenses.
The report, which is part of a state-mandated five-year review of the horse racing and casino markets and their socioeconomic impacts, concluded that the existing licenses could accommodate a three to fourfold increase in racing. It explicitly stated that the data did not support the issuance of more racing licenses, potentially impacting the prospects of new casino developments.
As Nebraska’s casino market navigates these challenges, the NRGC faces the task of balancing market growth with the health of the existing gaming and racing ecosystem. The commission’s deliberations and decisions in the wake of this report will be pivotal in shaping the future of casino gaming and horse racing in the state.
