Mechanism for funding new Vikings stadium isn’t performing well

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The to-be-constructed Vikings stadium is supposed to be funded in part by a specific form of gambling.

And the gamble on the gambling isn’t paying off, so far.

According to the Minneapolis Star Tribune, revenues for electronic pulltabs and bingo are far below the projections.  In May 2012, the experts estimated that the games would generated $35 million per year.  Gross revenues for the games are at only $7.5 million.

It’s unclear how it will all play out, but it’s not encouraging.  And it could mean that changes to the funding mechanism will be necessary in order to pay for the stadium.

Unless they plan to build a stadium without, you know, seats.  Or arm rests.  Or toilets.

39 responses to “Mechanism for funding new Vikings stadium isn’t performing well

  1. And I’m sure every penny was appropriately projected for and accounted for. No mistakes or anything unusual or any funny business going on here.

    What are the odds that I’m wrong? I’m not going to wager myself though if the house gets a free cut without taking any risk on the bet.

  2. I am both a Minnesotan (Minneapolis) and avid gambler. I have no idea where I would even play these machines. They are nowhere. The problem isn’t that they don’t bring in money, the problem is that these machines are nowhere to be found. I’d gladly play these things if they were available to me. They are going to need to expand them.

  3. “In May 2012, the experts estimated that the games would generated $35 million per year. Gross revenues for the games are at only $7.5 million.”

    Is this total since last year (May) or this year so far? If it’s $7.5mil so far this year, then they’re looking at a potential $45mil this year. Maybe my maths wrong…

  4. Its not working, because they aren’t available. I frequent bars often, and have yet to see the electronic pull tabs in St. Paul. The state and the vending companies are dragging their feet with the licensing.

  5. They didn’t toilets in the last stadium (at least not in the mens restroom) just a trough. Why break such a wonderful tradition?

    Regardless, I am fully oppossed to billionares forcing tax payers to break their banks to pay for stadiums that line the pockets of the billionares.

  6. With the economy in the tank, what did these people expect? It’s not like those who spend their money on such games are exactly doing well these days.

  7. If the Strib article had been reported accurately it would have pointed out that the reason for the shortfall is that not all the vendors that license the machines and the end users have been approved — it has nothing to do with the underlying concept not working. Minnesota residents are still gambling away their money like drunken sailors.

  8. I think it’s been said twice already, but I live in Minneapolis and frequent many bars, and I don’t think I could find an electronic pull tab machine if my life depended on it.

  9. Maybe this will be a “teachable moment” to lawmakers who gamble with our tax dollars. I doubt it though.

  10. Only a bureaucrat would expect the entire gambling age population in MN to put up an average of almost $9 per person into an electronic lottery game. And that’s just to break even, not even counting payout.

    I’m not a genius but even I know that’s a load. All of these people “estimating” these types of things wouldn’t know reality if it slapped them in the face.

  11. I have never seen these machines and I frequent the town, both high brow and low brow establishments. These really need to be in the townie bars on the outskirts of town.

    The problem with the system itself, is that with electronic Pulltabs you can’t tell what box has the most winners left and which one has all the big cards already crossed off. That’s more than half the game, before you even start, makes it seem fishy to folk.

    The system can work, they just have to implement it correctly, which they haven’t. It’s government are you surprised?

  12. The pull tabs are only currently in around 10-15% of the bars that the other number expected them to be in. So if u look at the percentage with the amount made, once they are in more bars it will easily get to that mark. Imagin that, over reaction with out looking at the numbers. That never happens in the media (sarcasm)

  13. This is somewhat a non issue right now as stated above, they are nowhere to be found, the reason is there are suppose to be 1500 machines out by now and last I heard there was only about 300 in place and operating. Get them out there and they will pay off.

  14. You want a real mechanism to generate some dollars? Start selling booze on Sunday – we don’t live in the freaking bible belt.

    It’s a state of drinkers – let us do what we do well.

  15. Do the Viking fans yet realize the significance of the Packer stock sale? Now do you get it? It’s only worthless to persons that can’t see past the end of their noses. It’s really no different than a personalized NFL license plate for your car, but it helps avoid issues like this. And, the people paying are the people using. Hey look….light bulbs are lighting up above Viking fans heads!

  16. @dukemarc

    Ironically, it’s the liquor sellers that are against selling on Sunday (well those that aren’t on the border of WI anyway). The argument being that it won’t create additional revenue, just spread current revenue across 7 days instead of 6. Thus, increasing their costs since they have to be open an extra day without increasing revenue/profit.

  17. Ponder This says:Feb 28, 2013 1:07 PM

    Unless they plan to build a stadium without, you know, seats. Or arm rests. Or toilets.
    ________

    Sounds like Lambeau Field.
    ——–

    We may not have arm rests, but we do have 4 Super Bowl trophies. M’boy.

  18. landof10000lakes says:
    Feb 28, 2013 12:55 PM
    @dukemarc

    Ironically, it’s the liquor sellers that are against selling on Sunday (well those that aren’t on the border of WI anyway). The argument being that it won’t create additional revenue, just spread current revenue across 7 days instead of 6. Thus, increasing their costs since they have to be open an extra day without increasing revenue/profit.
    ——————————–

    I know landof, but I don’t buy that reason as being accurate. There’s plenty of times I’ve gone across to Hudson to buy beer because I forgot to get some by 10pm(or 8pm depending on the county) on Saturday night. I’m also guessing that plenty of people are going to the bars on Sunday to get their fix. You’d think with the how strict our drunk driving laws are, the legislature would tell the liquor store owners that are against the issue to go pound sand.

  19. If memory serves correct, good old Tokyo above lives in MN, which begs the question if things aren’t performing well in this state, why do you live here? Could it be that the jobs, economy, schools, business and infrastructure are all “performing” better than your beloved Wisconsin? If you think not, please move back and/or shut your yapper.

  20. I can see it now – a half-finished shell of a stadium, surrounded by thousands of port-a-potties! Sweets for the sweet, and a trainwreck home for one of the NFL’s most hapless franchises!

  21. tokyosandblaster says:
    Feb 28, 2013 5:55 PM
    I have never lived in Minnesota. Shows that your memory works as well as Christian Ponder’s throwing arm in the playoffs.

    Confirmed for not having seen the picture of his arm.

  22. They had to sell stock in packer land. It gave them something to look at between 1972 and 1995 when most high school teams could best them as they failed to win the division for 2 decAdes.

  23. shinypennyinc says:
    Mar 1, 2013 5:30 AM
    They had to sell stock in packer land. It gave them something to look at between 1972 and 1995 when most high school teams could best them as they failed to win the division for 2 decAdes.
    ///////////////////////////////////////////

    Is that more humiliating than losing SuperBowls? Which condition is easier to remember? It’s really just different degrees of loser, isn’t it?

    There have been five stock sales…three back in the 20’s, one in 1997, and one in 2011.

    Regarding the record the Packer record back in the 70’s? Who cares? They still sold out…they still had a waiting list for tickets…..and the fans to this day are still the most supportive in the NFL. I know that is hard to digest, but it’s true. Just accept it and move on. Your dog will appreciate it.

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