Electronic Gaming Funding a Failure for Brand New Minnesota Vikings Stadium
Electronic pull-tab gaming was designed to purchase a 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 rather than take the cash from the fund that is general create a special tax to enhance the money, they’d bring electronic gambling machines to 1000s of bars and 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 on the machines during the period of their first year functioning. Of that, around 85% went back to players in the form of winnings, leaving only about $2 million in earnings. That was split among charity expenses, contributions and basic taxes, and left absolutely nothing for the stadium that is new. That is right: the pull-tab that is electronic games raised nothing for their intended purpose over their very first 12 months in service.
The failure can be an embarrassment for Governor Mark Dayton, who may have been strongly behind the latest Vikings stadium. According to him, the true numbers that have come in show that the state itself was taking quite the gamble by relying on the machines to finance their percentage of the stadium’s cost.