Electronic Gaming Funding a Failure for New Minnesota Vikings Stadium
Electronic pull-tab gaming was supposed to pay for A minnesota that is new vikings, but that plan hasn’t materialized as prepared
When the Minnesota Vikings decided if it was available that they needed a new stadium, they wanted to take advantage of public financing. The state of Minnesota obliged, but decided that as opposed to take the money from the general fund or create a unique tax to raise the money, they might bring electronic gambling machines to several thousand bars as well as other venues around hawaii. It seemed like a sound plan until it had been put into practice.
Net Gain: Bupkes
This week, Minnesota announced that residents and visitors to the state had put down about $15 million on the devices during the period of their first year functioning. Of that, more or less 85% went right back to players by means of winnings, leaving only about $2 million in earnings. That was split among charity expenses, contributions and basic taxes, and left nothing for the brand new stadium. That is correct: the electronic pull-tab style games raised nothing for their intended purpose over their very first year in service.
The failure is an embarrassment for Governor Mark Dayton, that has been strongly behind the latest Vikings stadium. According to him, the numbers that have come in show that the state itself was taking quite the gamble by relying on the machines to finance their part of the stadium’s cost. Continue reading “Electronic Gaming Funding a Failure for New Minnesota Vikings Stadium”