Electronic pull-tab gaming was expected to pay for A minnesota that is new vikings, but that plan hasn’t materialized as planned
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 develop a unique tax to improve the money, they would bring electronic gambling machines to several thousand bars and other venues around their state. It seemed like a sound 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 in the devices during the period of their first year functioning. Of this, more or less 85% went straight back to players by means of winnings, leaving only about $2 million in earnings. That was split among charity expenses, donations and general taxes, and left practically nothing for the stadium that is new. That is correct: the electronic pull-tab design games raised absolutely nothing for their intended purpose over their first year operating.
The failure is an embarrassment for Governor Mark Dayton, who may have been strongly behind the brand new Vikings stadium. According to him, the numbers which have come in show that the state itself had been taking quite the gamble by relying on the machin Continue reading