The state of Nebraska is known for having some strict laws towards the gambling industry. Interestingly, things are beginning to change here. With approval from the majority of state residents, casino laws in Nebraska are finally set to expand.
It’s exciting news for gambling fans here. Not everyone is excited to see things change, though. Today, we’re going to take a look at how casino laws will be expanding in the state.
Let’s get into it!
US Casino Companies Face Biggest Difficulties to Date
Prior to 2020, the US had one of the most successful casino industries in the world. Many states had either tribal casinos, commercial casinos, or even both operating. Unfortunately, this industry is now facing its toughest test to date.
For months, all of the country’s casinos were completely shut down. Different states then began setting regulations for these gambling venues to reopen. Today, nearly all of the casinos around the country are accepting guests again.
This industry still has a long road to recovery, though. Revenue figures remain significantly lower than they were in 2019. We’re also seeing major spikes in Covid-19 cases around the country. This had led some major casino companies to change their venue’s operating hours.
More of these companies are now changing their focus. Many are beginning to offer more online gambling options to players. Some are also working hard to cut down on rates in order to bring more visitors into their hotels.
Gambling revenue figures around the country are extremely low right now. Some believe the upcoming winter months will make things even worse. Sports betting revenue is helping to make up for some of this lost revenue, yet it’s not enough to completely turn this situation around.
It’s an unprecedented situation for the casino industry. Gaming companies have never been forced to deal with the kind of regulations set in place right now. Interestingly, one state has just decided to expand its casino laws.
Voters Approve Measure to Expand Casino Laws in Nebraska
Lawmakers in the state of Nebraska have been considering expanding gambling laws for years. Nebraska is known for having very strict laws towards the gaming industry. Many, however, feel that expanding regulations here will help to bring the state valuable revenue each month.
Not long ago, news broke that several measures to finally expand the casino laws in Nebraska would appear on November 3rd’s ballot. Many were torn on whether or not the state would approve these measures. As we mentioned earlier, there are many here that have been vocal against allowing casino gambling in the state.
It’s now been confirmed these have all been approved. Initiative 429, 430, and 431 have all been approved. It’s the biggest change to the gambling laws here ever made. Below is a description of these measures.
Initiative 429: Allows casino table games to appear inside race tracks in Nebraska. This would amend the state constitution to state that laws may be enacted to provide for the authorization, regulation and taxation of all forms of games of chance to be conducted by licensees within licensed racetrack enclosures in Nebraska.
Initiative 430: This allows games of chance to be offered at state race tracks. It also establishes a Nebraska Gaming Commission to license and regulate these gambling activities.
Initiative 431: Imposes a 20% annual tax rate on all gross gaming revenue from games of chance. Also sets rules on how this tax money is distributed to the state.
These have all been approved. It’s an exciting time for gambling proponents here. We’ll continue offering updates on this situation over the next few weeks.
When Will Nebraska Legalize Sports Betting?
It’s incredible to see casino laws in Nebraska finally change. It seemed like this state would never choose to expand its gaming regulations. Many are now asking questions about when Nebraska will choose to legalize sports gambling.
It’s still not entirely clear which games will be allowed inside race tracks. Some feel that the passed initiatives allow for sports gambling. Others claim a completely new piece of legislature will need to be passed here in order for sports gambling to become available.
This seems more possible now than ever before. Lawmakers here are clearly seeing the benefits of regulated gambling industries. It wouldn’t be a surprise to see a new sports betting bill appear here sometime in the near future.
Many are now calling for online and land-based sports gambling to become available here. The states with online sports betting options are earning a huge amount of money from the industry. That includes New Jersey, which continues to see record-high sports betting handle figures.
It’s not clear when lawmakers will begin working on this. There are obviously more pressing matters at hand. Stay tuned for more information!
Are you surprised to see casino laws in Nebraska finally change? When do you expect sports betting to become available here? Let us know in the comments section below!