Electronic Gaming Funding a Failure for New Minnesota Vikings Stadium
Electronic pull-tab gaming was supposed to purchase A minnesota that is new vikings, but that plan hasn’t materialized as planned
When the Minnesota Vikings decided that they required a new stadium, they desired to take advantage of general public financing if it was available. The state of Minnesota obliged, but decided that as opposed to take the money from the general fund or create a special tax to raise the money, they’d bring electronic gambling machines to several thousand bars along with other venues around their state. It seemed like an audio plan until it was placed into practice.
Net Gain: Bupkes
This week, Minnesota announced that residents and people to the state had put down about $15 million on the devices during the period of their first year in operation. Of the, roughly 85% went back to players by means of winnings, leaving only about $2 million in earnings. That was split among charity expenses, donations and general taxes, and left nothing for the stadium that is new. That is correct: the pull-tab that is electronic games raised nothing for their intended purpose over their first year in service.
The failure is an embarrassment for Governor Mark Dayton, who has been strongly behind the new Vikings stadium. According to him, the true numbers which have come in show that the state itself was taking quite the gamble by counting on the machines to finance their percentage of the stadium’s cost. Continue reading