News Column

Coliseum sees loss last fiscal year

June 27, 2014

The Pantagraph, Bloomington, Ill.

June 27--BLOOMINGTON -- The city-owned U.S. Cellular Coliseum ended its last fiscal year with a $183,727 operating loss due to emergency repairs, a harsh winter and lost parking revenues, according to a press release issued Friday.

The actual financial report for the year ending April 30 was not immediately available to the media Friday.

The Pepsi Ice Center parking garage, which serves Coliseum patrons has been closed since October 2013 due to the discovery of structural deficiencies. The Coliseum's smoke evacuation system also required emergency repairs the city in December estimated would cost about $100,000.

The city-owned venue is operated by the private firm Central Illinois Arena Management, which reported that operating profits fell short despite $3.9 million in operating revenues, exceeding its budget by $119,000.

While the facility saw an operating loss last fiscal year, CIAM General Manager Bart Rogers in the news release touted an estimated economic impact of $17 million over the same period and $117 million since the facility opened in 2006. "Despite the challenges with the economy, the U.S. Cellular Coliseum continues to be a significant contributor in local tourism dollars, while improving the quality of life for our residents," he said.

In the last year, the Coliseum hosted nine sold-out shows and a "Rock to the Rescue" charity concert that raised $400,000 for area tornado victims.

Quarterly and year-end financial reports are not audited, and they typically do not include costs borne by the city, including major capital improvement projects or depreciation.


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Source: Pantagraph (Bloomington, IL)

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