Electronic pull-tab gaming was likely to buy a brand new minnesota vikings stadium, but that plan hasn’t materialized as planned
When the Minnesota Vikings decided that they required a brand new stadium, they desired to make the most of public financing if it was available. The state of Minnesota obliged, but decided that as opposed to take the money from the basic fund or produce a special tax to improve the money, they might bring electronic gambling machines to thousands of bars along with other venues around their state. It seemed like a sound plan until it absolutely 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 machines during the period of their year that is first in. Of this, around 85% went back to players by means of winnings, leaving only about $2 million in earnings. That was split among charity expenses, contributions and general taxes, and left absolutely nothing for the stadium that is new. That is correct: the electronic pull-tab style games raised absolutely nothing for their intended function over their very first 12 months operating.
The failure is an embarrassment for Governor Mark Dayton, who’s got been strongly behind the brand new Vikings stadium. According to him, the true numbers that have come in show that the state itself ended up being taking quite the gamble by relying Continue reading “Electronic Gaming Funding a Failure for New Minnesota Vikings Stadium”