ABOUT THE PROPOSAL
Minneapolis developer Alatus LLC has pitched a state-owned casino for its Block E complex in downtown Minneapolis. Some details, as proposed:
Operation: 3,200 gambling positions, open 24 hours a day.
Customer base: Projected to attract 5.6 million people (including repeat visits) a year.
Development: Companies would compete for the contract to build and run the casino.
Requirements: Qualified companies would have to be 51 percent-based in Minnesota and spend at least $200 million on the casino.
Licensing costs: A one-time fee of $50 million.
Revenue potential: Total gambling revenue projected to reach $450 million a year.
Taxes: About 25 percent of the revenue would go to the state; an additional 3 percent tax to Minneapolis.