There are two vices which the state of Minnesota could implement Sports Book Gambling (sports betting) and Marijuana legalization that will help our state create perpetual surpluses. We were an advocate of our state carving out this path on gambling when the Vikings Stadium was being proposed in 2012. We thought and it has shown sports betting would be a more lucrative financing option for financing the state’s obligation for its Revenue Bonds instead of electronic pull tabs. Granted, e-tabs are finally proving their worth, but Sports Book would have provided a ready source of income overnight.
Yesterday, the US Supreme Court rule on a 6-3 decision not to bar state legislatures from establishing sports betting. Rep Pat Garofalo (R-58B, Farmington) was quick to discuss capitalizing on the opportunity, but currently, there is no legislation crafted calling for implementation sports betting in Minnesota.
One reality, if the state does allow sports betting, it will open up the same opportunity for Tribal Gaming Casinos. What will be interesting is if the tribes also were to create gambling parlors or bars at their properties in downtown St Paul The International Hotel (Mille Lacs Band of Ojibwe), The Treasure Island Center (Mdewakanton Sioux) and Fond-du-Luth Casino in Duluth (Fond du Lac Ojibwe).
There just might be a new White Buffalo for all Minnesotans.