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 general fund or produce a unique tax to enhance the money, they’d bring electronic gambling machines to a large number of bars along with other venues around their state. It seemed like a sound plan until it absolutely was placed into practice.

Net Gain: Bupkes

This week, Minnesota announced that residents and people to the state had put down about $15 million on the machines over the course of their year that is first in. Of the, more or less 85% went straight back to players in the form of winnings, leaving only about $2 million in earnings. That was split among charity expenses, donations and general taxes, and left nothing at all for the new stadium. That is right: the electronic pull-tab style games raised nothing for their intended function over their very first 12 months in service.

The failure is definitely an embarrassment for Governor Mark Dayton, who may have been strongly behind the newest Vikings stadium. According to him, the numbers which have come in show that the state itself ended up being taking quite the gamble by relying on the machineContinue Reading..