Covelli Centre Posts 2nd-Best Yearly Operating Profit
YOUNGSTOWN, Ohio – The Covelli Centre enjoyed its second most successful year since the arena opened 10 years ago, buoyed by more than 200,000 patrons who attended 86 events in 2015.
Eric Ryan, the Covelli Centre’s executive director, reports the municipal arena posted an operational profit of $372,954 for 2015 — it had budgeted for a profit of $306,381 – and brought in an additional $192,102 returned to the city through a 5.5% admission tax.
“We are off to a quick start in 2016 with a great first quarter of entertainment and we’re looking forward to another financially successful year,” Ryan said in a cover letter to Mayor John McNally and members of City Council that accompanied the financial results.
The first quarter is likely to get a boost from a March 22 concert by Elton John, his third performance at the Covelli Centre since 2010.
Last year the Covelli Centre hosted 86 events that attracted more than 200,000 people, Ryan said. Among the highlights were sold-out concerts by James Taylor, Trans-Siberian Orchestra, Brad Paisley, Def Leppard, and Shinedown.
In all, the arena played host to nine concerts, 20 family performances, 40 sporting events, and 17 other attractions, Ryan said.
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