State Auditor Mike Foley on Monday castigated Nebraska’s oversight of casino tax revenues as “lackluster at best and oftentimes completely nonexistent” despite the millions of dollars involved.
In a new audit report, he also questioned the Nebraska Racing and Gaming Commission’s ability to successfully carry out that oversight task.
The commission is the state agency charged with regulating Nebraska casinos and collecting taxes equal to 20% of gross gaming revenues from them. The audit, signed by Foley, covers the fiscal year ending June 30, a period comprising the first full year of casino gambling at Nebraska horse racetracks.
During that year, the commission collected nearly $20 million of casino taxes, most of which goes into property tax credits.
