Electronic Gaming Funding a Failure for Brand New Minnesota Vikings Stadium
Electronic pull-tab gaming was likely to purchase a new minnesota vikings stadium, but that plan hasn’t materialized as prepared
When the Minnesota Vikings decided that they required a new stadium, they wanted to make use of public financing if it absolutely was available. The state of Minnesota obliged, but decided that rather than take the money from the fund that is general create a special tax to raise the money, they might bring electronic gambling machines to a large number of bars along with other venues around the state. It seemed like an audio plan until it was put into practice.
Net Gain: Bupkes
This week, Minnesota announced that residents and people to the state had put down about $15 million in the devices during the period of their first year in operation. Of that, approximately 85% went right back to players by means of winnings, leaving only about $2 million in earnings. That was split among charity expenses, donations and basic taxes, and left absolutely nothing for the new stadium. That’s right: the electronic pull-tab style games raised absolutely nothing for their intended purpose over their very first 12 months in service.
The failure can be an embarrassment for Governor Mark Dayton, who’s been strongly behind the new Vikings stadium. According to him, the numbers which have come in show that the state itself ended up being taking quite the gamble by depending on the machines to finance their part of the stadium’s cost. Continue Reading