Gaming Revenue To Play Big Part In Viking Stadium Funding
ST. PAUL (AP) - Charitable gaming is expected to generate more than 25 percent of the revenue the state to pay for the new Vikings stadium even though electronic pulltabs haven't been the boon Minnesota was anticipating.
Figures show the state projects more than $7 million a year in charitable game taxes can be used to help pay off stadium bonds. That's $241 million over 30 years, or about 27 percent of the total $881.8 million debt service.
Most of the rest of the money to pay off the bonds will come from corporate tax revenue and Minneapolis sales tax revenue.
Before they flopped, pulltabs were touted as a way to increase charitable gaming and create enough revenue to pay the state's entire $348 million piece of the $1 billion stadium.