Electronic Gaming Funding a Failure for Brand New Minnesota Vikings Stadium
Electronic pull-tab gaming was supposed to purchase a new minnesota vikings arena, but that plan hasn’t materialized as planned
When the Minnesota Vikings decided that they needed a new stadium, they wished to benefit from general public financing if it was available. The state of Minnesota obliged, but decided that as opposed to take the money from the fund that is general develop a special tax to improve the money, they would bring electronic gambling machines to a huge number of bars and other venues around hawaii. It seemed like an audio 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 in operation. Of this, 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 basic taxes, and left nothing for the new stadium. That is correct: the electronic pull-tab design games raised absolutely nothing for their intended function over their first 12 months in service.
The failure is definitely an embarrassment for Governor Mark Dayton, that has been strongly behind the latest Vikings stadium. According to him, the true numbers which have come in show that the state itself ended up being using quite the gamble by counting on the machines to finance their percentage of the stadium’s cost. Read More