Electronic pull-tab gambling sales increases in Minnesota
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Minnesota has witnessed a significant rise in the sales of electronic pull-tabs in the last fiscal year. The sales increased by 80 per cent to generate $360 million.
The rise in pull-tab sales comes after a sedate debut in 2012. Interest grew after the original manufacturer folded and Pilot Games took over.
“I know we started rough in those early years, but now, when you look at the chart, it’s really climbing — and it’s still in less than 40 per cent of all the charitable gaming sites in Minnesota,” Tom Barrett, executive director of gambling board, which oversees charitable, but not tribal, gaming in Minnesota.
Paper pull-tab sales accounted for about 75 per cent of the charitable gambling industry this year, down from about 82 per cent of the market last year. But sales were still up 6.8 per cent year over year, Barrett said.
Funds from electronic pull-tabs were pledged to pay for the US Bank Stadium. The increase in sales means the state may be able to pay off the mortgage early and save money that would’ve gone to interest payments.
“I think it is 2022 or 2023 is the first year we could start paying (the construction bonds) off early,” said Myron Frans, commissioner at the Minnesota Department of Management and Budget. “We hope we’re careful about how we use those funds going forward.”
The board’s report found that charitable gambling overall topped $2 billion in sales for the first time, with $1.6 billion paid out in prizes.
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