A recent report from Nebraska State Auditor Mike Foley highlights compliance issues faced by the Nebraska Racing and Gaming Commission on reporting casino revenues, showing that the Commission did not adhere to its own rules and lacked independent audits to support the casino revenue figures it published.
“What we’re being told is, ‘here’s the money that we earned that we owe to the state. Take our word for it; it’s correct.’ We’re happy to take your word for it, but we also need to verify by an independent firm,” Foley said. “It’s going to be a bigger and bigger issue as time goes on, so we want to make sure right out of the gate everyone’s going to play by the rules, play by the regulations, make sure you verify those tax dollars coming to the people of Nebraska.
“We’ve got to make sure that everybody is getting all the tax revenues that were promised to the people because that was a big part of the sales pitch when people were being asked to vote on whether or not to authorize casino gambling in our state,” Foley added.
The Commission’s failure to produce audits raises concerns about the accuracy of tax revenues paid, which was a driving factor in legalizing casino gambling in the state.
In response to the auditor’s report, the Commission has committed to strengthening its policies and procedures. Nebraska Gaming Commission Chairman Dennis Lee responded to the concerns to KETV on Tuesday, saying that the Commission is working with the auditor’s office to comply.
“As we continue to expand the potential for casino gaming in Nebraska with our current facilities, then we’re going to need some guidance on that path,” Lee said. “Fortunately, we have the auditor available to give us that guidance. We know what our marching orders are, and so do the casino operations.”
2023, the first full year of casino gambling in Nebraska, ended on a high note, generating nearly $8.9 million in revenue in December. This ended the year with more than $89 million in gross gaming revenue from slot machines, table games and sports betting. Most of this revenue – $51.5 million – was generated at Lincoln’s WarHorse Casino. This included $50.2 million and $1.3 million from slots and sports betting, respectively.
