Chevy Centre profits in 3rd quarter

By David Skolnick

The center has never finished a fiscal year with a profit.

YOUNGSTOWN — Even though the Chevrolet Centre lost $10,669 in the April-to-June financial quarter, it reached an important financial milestone.

It’s the first time in the center’s operating history, which began October 2005, that it finished its third fiscal quarter with a profit.

In the nine months ending June 30, the center had a $110,669 profit, according to figures released Wednesday by the city. (The center’s fiscal year starts in October and ends the following year in September.)

In comparison, the center lost $205,215 in April to June 2007 on its way to ending that fiscal year in September 2007 with a $254,388 deficit.

Indoor facilities in the area don’t do well in the summer months because of the variety of outdoor activities and events available, city officials say.

Because of that, the Chevrolet Centre’s schedule for this month, August and September is light, said Kyle Miasek, the city’s deputy finance director.

But sometimes having nothing happening at the facility helps its finances because it cuts down on operational costs, he said.

“We’re optimistic the building will end its third operating year with a positive bottom line,” Miasek said. “... There is the potential for a profit.”

The center’s major events for July, August and September are the July 25 WWE RAW wrestling show, a four-day rib burn-off Aug. 14-17, and the Sept. 17 Blue Man Group concert.

The center’s success this fiscal year may hinge on attracting one more big event for September, Miasek said.

The city parted ways in October 2007 with International Coliseums Co., a Phoenix company that managed the center for two years. Since then, Eric Ryan of Struthers has served as the center’s executive director.

The city signed a deal last month with SMG, a Philadelphia company, to help manage and promote the facility.

Also, city council on Wednesday approved legislation to reduce the center’s admission tax charged on tickets to events from 9.5 percent to 5.5 percent. The change is expected to go into effect Aug. 1.

Though the city would receive less money in admission tax on each event, the proposed reduction should help business at the arena, Miasek said. The 5.5 percent figure is more in line with the national average for admission taxes, he said.

skolnick@vindy.com