Electronic Gaming Funding a Failure for New Minnesota Vikings Stadium
Electronic pull-tab gaming was expected 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 cash from the fund that is general create a special tax to raise the money, they might bring electronic gambling machines to 1000s of bars and other venues around their state. It seemed like an audio plan until it was placed 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 functioning. Of that, roughly 85% went right back to players in the form of winnings, leaving only about $2 million in earnings. That was split among charity expenses, contributions and general taxes, and left practically nothing for the brand new stadium. That’s right: the pull-tab that is electronic games raised nothing for their intended function over their first 12 months in service.
The failure is definitely an embarrassment for Governor Mark Dayton, who’s been strongly behind the brand new Vikings stadium. According to him, the true numbers which have come in show that the state itself ended up being taking quite the gamble by relying on the machines to finance their part of the stadium’s cost. Continue reading