The railroad was incorporated in October 1885 and built a line from Chadron, Nebraska through Douglas to Casper.
The FE&MV was merged into Chicago and North Western Transportation Company in 1903 and the line was extended to Lander.
Local landowner Frank S. Lusk was named as a director and only resident stockholder of the Wyoming Central company.
The town was named for nearby Fort Caspar which was an important stop on the Oregon Trail.
[2] When Union Pacific merged with the C&NW in 1995, UP announced its intention to abandon the portion of the line from Orin Junction to Casper.