New Casino Development Near Atokad Downs in South Sioux City
Casino Development Planned for South Sioux City Near Former Racetrack Site
The ambitious phase of casino development in Nebraska is on the horizon, following authorization through legislation and a statewide ballot referendum in 2020. WarHorse Gaming and Ho-Chunk Inc. have revealed their plans for a $50 million casino and horse racetrack in South Sioux City, signaling the start of significant casino development set to commence construction in the spring of 2025.
Project Overview
As subsidiaries of the Winnebago Tribe of Nebraska, WarHorse Gaming and Ho-Chunk Inc. plan to transform the old Atokad Downs racetrack into a new entertainment destination. The proposed facility will feature a brand new 5/8 mile racetrack and a grandstand, strategically located just south of Interstate 129 and C Avenue.
Goals of the Casino Development
According to Ho-Chunk CEO Lance Morgan, the primary objective is to revitalize horse racing in South Sioux City while introducing games of chance to enhance the local economy. The venture aims to provide a boutique gaming experience without negatively impacting the existing WinnaVegas Casino Resort located nearby in Sloan, Iowa.
- Revenue Considerations: Studies indicate that the majority of revenue is expected to originate from the Hard Rock venue in Sioux City, IA.
- Community Benefits: Dakota County and South Sioux City are slated to gain from the 25% casino revenue tax, supporting local schools and infrastructure development.
Compliance with Nebraska’s Gaming Expansion
In 2020, Nebraska passed a commercial gaming bill aimed at revitalizing its struggling horse racing industry and generating new state tax revenue for property tax relief. This law permits licensed horse racetracks to offer gambling options, including slot machines, table games, and sports betting.
Future Prospects
Looking ahead, the tribe envisions expanding the size of the gaming floor and possibly adding a hotel and event center in future development phases. As construction progresses, local communities can anticipate economic benefits through increased employment and tourism.
Conclusion
The announcement of the new casino development in South Sioux City is significant for the regional gaming landscape. It highlights the potential economic growth fueled by Nebraska’s gaming laws and the ongoing evolution of sports and horse racing in the state.
