Bellevue mayor backs proposed racetrack casino

Hike said the proposed Bellevue Downs Racetrack & Casino in his community would help pull revenues from Iowa casinos and fit well with an entertainment district city officials hope to create featuring a proposed water park.

Hike said the gambling facility would likely generate more revenue than a state consultant estimated and would help maximize tax revenue for the state, city and county.

A consultant’s report prepared for the Nebraska Racing and Gaming Commission forecast that a Bellevue facility would generate about $60.7 million in revenue, but some of the revenue would be pulled from existing racetrack casinos.

The WarHorse casino under construction in Omaha would lose $24.7 million if the Bellevue facility were allowed, the report said.

Lance Morgan, chief executive officer of Ho-Chunk Inc., the parent company of WarHorse, said last week state law prohibits approving new racetrack casinos if they have a detrimental impact on the existing market.

But keno operator John Hassett, who applied to the commission to license the proposed Bellevue racetrack and casino, disagrees with that reading of the law. He said his casino would increase overall state revenues and his track would race quarter horses so not compete with thoroughbred tracks.

Hassett notes the state report estimates that there’s a pool of 500 to 1,000 Nebraska-bred quarter horses that could race, sufficient for a quarter-horse racing industry.

“The quarter horse racetrack will be a unique draw,” he said. “We expect it to be very popular with the public, because quarter horse racing provides a faster paced race experience.”

The state report, however, said Nebraska has no need for additional horse racing tracks beyond the ones already licensed. Only Fonner Park in Grand Island offers a full racing schedule, it said. A proposed track in Ogallala would race quarter horses.

Voters in 2020 approved a ballot initiative linking casino development to racing licenses. That means that anyone who wants to build a casino in Nebraska, other than the six existing racing license holders, must win state approval for a racetrack.

Currently, there are six licensed racetracks eligible for casinos: 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.

Hike said the proposed Bellevue racetrack and casino would complement a year-round indoor/outdoor water park that city officials are studying and hope to develop in an entertainment district, he said.

The district would be located on one of the corners of U.S. Highways 75 and 34, he said.

The racetrack, casino and water park would have the potential to further attract hotels, restaurants and other entertainment options, he said.

“Bellevue and Sarpy County should not be denied the benefits of hosting a facility,” Hike said.

Situated along the border with Iowa, the city’s location “provides a unique opportunity to pull revenue from southwest Iowa, northwest Missouri, Cass County, Nebraska, and Sarpy County, which has a population over 200,000,” he said.

Bellevue officials say that other market studies estimate the Bellevue racetrack and casino revenue at between $102 million and $112 million.