Covelli Centre shows 3Q operating loss
YOUNGSTOWN — It’s always going to be difficult for the Covelli Centre to have an operating surplus during the July-to-September quarter, its executive director said, but the facility’s losses for that time period are consistently going down.
The center had a $56,294 operating loss for July to September, the year’s third quarter, Eric Ryan said today. The center’s operating loss for that quarter has decreased every year since it opened.
In comparison, the operating loss for the third quarter in 2006 was $253,998.
Because of an increase in outdoor concerts and other entertainment events, indoor arenas, such as Covelli, typically lose money between July and September, Ryan and arena experts have said.
The center had no events in July. In August and September, there were 13 events, including three outdoor concerts.
Through the first nine months of this year, the center has an operating surplus of $11,664.
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