Gamble to Help Build the Vikings Stadium

New Vikings Stadium bill calls for electronic bingo and pull tabs in bars and restaurants within Hennepin County in order to help fund the almost $975 million construction.

In the newly proposed bill, the state would pay $398 million for the construction of the stadium with the help of the revenue from the bars and restaurants with electronic bingo and pull tabs reported the Star Tribune.

This would then give charitable gaming a $36 million tax break, but there still would be a $10 million gap between what the state needs to provide and what the revenue from the charitable gaming (bingo and pull tabs) would produce reported the Star Tribune.The bingo and pull tabs is suspected to bring in about $42 million a year for the charitable gaming industry.

Acording to the Pioneer Press, there are four back-up plans within the proposal if the bingo and pull tabs don't produce enough revenue which include a tax on luxury suits, a sport lottery game, the excuss sales tax being collected in Hennepin County or a stadium admission tax.

The proposal has had a Minnesota State senate hearing without a vote and is scheduled to have it first hearing in the House Monday, April 2 reported the Pioneer Press.

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This page contains a single entry by schw1223 published on April 1, 2012 9:10 PM.

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