WarHorse Gaming Secures Major Funding for Casino Expansion
WarHorse Gaming Secures Major Financing for Future Growth
WarHorse Gaming, LLC, recognized as Nebraska's largest casino operator, has successfully secured a remarkable refinancing of $300 million. This new funding arrangement is designed to propel the next phase of casino expansions and plan for a brand-new casino project.
Swift Financial Arrangement by Leading Institutions
This financing deal stands out as a rapid accomplishment in the pro rata financial landscape, finalized in under a month. U.S. Bank spearheaded the initiative, collaborating with several key financial partners including Capital One, KeyBank, The Huntington National Bank, BOK Financial, and Comerica Bank.
Future Developments and Growth Plans
The recent refinancing will ignite expansion efforts for WarHorse Gaming's casinos located at horse racetracks in Nebraska's largest urban hubs. Notably, construction for a third WarHorse Casino is set to commence in the coming summer.
The anticipated spring 2026 expansion of WarHorse Lincoln is generating considerable excitement. This project promises to introduce larger gaming spaces, an expanded range of table games, and include a new upscale steakhouse and sports bar. Following its expansion, WarHorse Omaha has also experienced significant growth, continuing to attract more visitors.
Building Strong Community Ties
Year-to-date, WarHorse Gaming has reported an impressive total gaming revenue of $94.8 million. These figures were confirmed by the Nebraska Racing and Gaming Commission and illustrate the success of operations that commenced just three years prior. To date, gaming taxes generated from WarHorse's revenue have reached $22.5 million, with a substantial portion allocated for property tax relief as stipulated by Nebraska law.
Looking ahead, WarHorse Gaming is optimistic about its potential, with expectations to double its operating cash flow in the coming year.
Lance Morgan, CEO of Ho-Chunk, Inc., which is the parent company of WarHorse Gaming, expressed gratitude towards their banking partners, stating, "This rapid refinancing shows our bank partners value what we're doing, and see the great potential ahead. We are proud to have them join us for this next big chapter." He added, "WarHorse Gaming is Nebraska grown and owned. We believe in providing a world-class gaming experience while investing in our communities, our state, and the Winnebago people."
Ho-Chunk, Inc.: A Driving Force for Economic Growth
Ho-Chunk, Inc. was established by the Winnebago Tribe of Nebraska 30 years ago. Its overarching goal has been to foster economic development and create sustainable job opportunities within the community. Over the years, the company has transformed into a key employer and an essential economic engine for Nebraska.
Its model of development is recognized nationally for its effectiveness in empowering communities and driving local economies towards self-sufficiency.
Frequently Asked Questions
What is the recent financing secured by WarHorse Gaming?
WarHorse Gaming has secured a refinancing deal of $300 million to facilitate its casino expansions and the construction of a new casino.
How quickly was the refinancing deal organized?
The refinancing deal was organized in less than one month, marking a swift turnaround in the financial market.
What new developments can customers expect from WarHorse Gaming?
New developments include an expansion with larger gaming areas, more table games, a new steakhouse, and a sports bar at WarHorse Lincoln.
What is the projected growth of WarHorse Gaming revenue?
WarHorse Gaming expects to double its operating cash flow in 2026 as part of its growth strategy.
Who is the parent company of WarHorse Gaming?
Ho-Chunk, Inc. is the parent company of WarHorse Gaming, established by the Winnebago Tribe of Nebraska.
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