Chevy Centre finances disappointing

Another fiscal quarter ends in disappointment at the Chevrolet Centre, as the nearly 2-year-old sports and entertainment venue finished its third quarter more than $200,000 in the red.

The setback leaves the center with a $33,000 total loss for this fiscal year, which began Oct. 1, 2006. Management company, Global Entertainment Corp. had predicted the center would generate $726,585 in profits by this point in the year.

Global had projected a loss of $88,000, or 44 percent of the actual shortcoming, for the months of April through July. But the company’s move to expand its entertainment roster sent financial figures plummeting, said the city’s deputy finance director Kyle Miasek.

Global added six shows to the summer line-up after the outset of the quarter, said Miasek. Expanding the entertainment agenda from 11 to 17 shows, hurt profitability when three major performers bombed at the box office, he said.