Electronic pull-tab gaming was likely to buy a brand new minnesota vikings stadium, but that plan hasn’t materialized as prepared
When the Minnesota Vikings decided that they required a new stadium, they wished to benefit from public financing if it had been available. The state of Minnesota obliged, but decided that rather than take the cash from the general fund or develop a special tax to improve the money, they might bring electronic gambling machines to 1000s of bars and other venues around their state. It seemed like a sound plan until it had been placed into practice.
Net Gain: Bupkes
This week, Minnesota announced that residents and visitors to the state had put down about $15 million in the machines over the course of their first year in operation. Of the, 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, contributions and general taxes, and left nothing for the stadium that is new. That is correct: the pull-tab that is electronic games raised absolutely nothing for their intended function over their very first 12 months in service.
The failure can be an embarrassment for Governor Mark Dayton, that has been strongly behind the newest Vikings stadium. According to him, the true numbers which have come in show that the state itself was using quite the gamble by counting on the machines to fina