WarHorse Gaming refinances $300m in startup loans for future casino expansion
According to the release, construction of the operator’s third WarHorse Casino will begin in the summer of 2026 in South Sioux City, Nebraska.
Key Points
- WarHorse Lincoln will also undergo new expansion set to be introduced in spring 2026, while the operator’s Omaha location unveiled new amenities in April 2025
- Per a Nebraska Racing and Gaming Commission report on August 25, WarHorse Gaming has accumulated $94.8m in total gaming revenue up to this point in 2025
To begin the next phase of its casino expansion efforts and introduce a third facility in Nebraska by the summer of 2026, WarHorse Gaming has refinanced $300m in startup loans to a “favorable” five-year deal, having been organized in less than one month’s time by the operator.
WarHorse Gaming is owned and operated by Ho-Chunk, Inc., the economic development entity of the Winnebago Tribe of Nebraska, originally created in 1995 to help the Tribe reach economic self-sufficiency.
“This rapid refinancing shows our bank partners value what we’re doing, and see the great potential ahead,” Ho-Chunk CEO Lance Morgan said.
“We are proud to have them join us for this next big chapter. 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.”
According to the release, construction of the operator’s third WarHorse Casino will begin in the summer of 2026 in South Sioux City, Nebraska, while WarHorse Lincoln will also undergo new expansion set to be introduced in spring 2026.
Good to know: Light & Wonder, through a fourth market entry collaboration with Betson Enterprises, launched in the Nebraska skill games VGTs market with titles such as Gold Fish Feeding Time Treasure, Bier Haus, Lock It Up – Dragon Fire and Zeus
The operator’s WarHorse Omaha location introduced new amenities in April 2024, as banks such as Capital One, KeyBank and The Huntington National Bank all took part in organizing the new contract.
Per a Nebraska Racing and Gaming Commission report on August 25, WarHorse Gaming has accumulated $94.8m in total gaming revenue up to this point in 2025, as well as having paid $22.5m in gaming taxes.
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