YOUNGSTOWN, Ohio – The city’s three entertainment venues posted a not unexpected loss of $125,025 in the second quarter.
“As history shows, both the second and third quarters have always been the most volatile,” Eric Ryan, president of JAC Management, wrote in his report to City Council. “This year was no different as event totals and attendance [varied].”
Ryan said he expects to finish the year with another operational surplus and a substantial amount of admissions tax revenue for the city.
Youngstown-based JAC operates Covelli Centre, The Youngstown Foundation Amphitheatre and Wean Park under a contract with the city.
The report was sent to Mayor Jamael Tito Brown and City Council this week – just days before the massive concerts by John Mayer and Tim McGraw this weekend at Wean Park.
For the second quarter, which ended June 30, events at the three facilities generated $94,294 in admission tax.
In those three months, the venues hosted more than a dozen events, including concerts by Dylan Scott, Riley Green, Rick Springfield and Coheed & Cambria; the Harlem Globetrotters; Rock the Rich Center; Ohio Lottery Cash Explosion; the DeBartolo Memorial Foundation Scholarship dinner; and six Youngstown Phantoms hockey games.
Other events during the quarter include the Simply Slavic festival, Juneteenth Celebration and two Party on the Lawn events.
The venues earned a combined $657,151 in gross income for the quarter, with total expenses of $782,176.
Through the first two quarters, the venues are showing a net income of $19,657.