News Column

Intrust arena has $41K loss in 1Q, gives 2013 profit check to county

May 14, 2014

By Deb Gruver, The Wichita Eagle

May 14--Intrust Bank Arena posted a $41,490 loss the first quarter of this year, Assistant Sedgwick County Manager Ron Holt told commissioners Wednesday.

The arena played host to 38 paid performances in the first quarter, eight less than the same time period last year. There were 18 Wichita Thunder hockey games, five concerts, four family shows, one visit by the Harlem Globetrotters and one performance by WWE, or World Wrestling Entertainment Inc. Some events featured more than one performance.

Gross building income in the first quarter came in at $1,262,869, but operating expenses of $1,304,356 overshadowed that.

Arena general manager A.J. Boleski presented the county an oversized check for $255,678, the county's portion of profits last year.

The downtown venue netted $705,678 last year, its second-best year since opening in 2010. More than $514,000 of that came in the last quarter, which featured top-selling events such as Wichita State, Kansas State and Oklahoma City Thunder games and concerts by the Eagles and Blake Shelton.

SMG keeps the first $450,000 of any profit. It also absorbs any losses -- a rare agreement hashed out between the county and the company that County Manager William Buchanan recently said may change under a new contract with SMG.

Styx and Foreigner play the arena Wednesday. Holt wore a concert T-shirt, but when pressed, couldn't name a hit song from either band without help.

Upcoming events include Wichita Ribfest this weekend, a June 20 concert by James Taylor, a July 12 concert by Motley Crue and an Oct. 17 game with the Oklahoma City Thunder against the Toronto Raptors.


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Source: Wichita Eagle (KS)