Electronic Gaming Funding a Failure for Brand New Minnesota Vikings Stadium
Electronic pull-tab gaming was supposed to buy a brand new minnesota vikings arena, 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 basic fund or create a special 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 an audio plan until it was put into practice.
Net Gain: Bupkes
This week, Minnesota announced that residents and visitors to the state had put down about $15 million regarding the devices over the course of their first year in operation. Of this, around 85% went straight back to players in the shape of winnings, leaving only about $2 million in earnings. That was split among charity expenses, donations and basic taxes, and left nothing for the stadium that is new. That is right: the electronic pull-tab style games raised nothing for their intended function over their very first year operating.
The failure is definitely an embarrassment for Governor Mark Dayton, who’s got been strongly behind the latest Vikings stadium. According to him, the true numbers which have come in show that the state itself was using quite the gamble by depending on the machines to finance their percentage of the stadium’s cost. Continue reading