YOUNGSTOWN — The city-owned Covelli Centre, Youngstown Foundation Amphitheatre and Wean Park in 2024 had their sixth-best year in operating revenue and their best year since 2019.

Also, despite having to cancel its Y-Live concert — which generates about $100,000 annually for the city from a 5.5% admission tax on tickets sold — the tax still generated $349,594 last year. That was only slightly less than what was generated from the record tax collection in 2023 of $355,172, and the $353,625 in 2022, when Y-Live concerts were held at Wean Park, drawing about 20,000 people each.

The Y-Live concert with Tim McGraw, originally scheduled for Aug. 2, 2024, will be Sept. 27 this fall. The show was canceled last year because of the explosion and subsequent demolition of the former Realty Tower nearby.

“If we had the show, it would have blown the admission tax record out of the water,” said Eric Ryan, president of JAC Management Group, which operates the entertainment facilities for the city. “Not having that and still having these numbers is pretty great.”

The complex finished 2024 with $285,488 in operating revenue. The facilities were budgeted to have a $176,969 surplus.

“It was a solid year,” Ryan said. “If we can have that kind of year every year that would be great.”

Last year was slightly better than the $275,756 operating surplus in 2023 and it was the strongest year since 2019 with a $412,684 surplus.

It was the sixth-best year for operating revenue since the Covelli Centre opened in October 2005. The amphitheater and Wean Park opened in 2019.

The facilities have had an annual surplus since 2009.

In 2024, the complex had 10 sold-out performances including Professional Bull Riding, two Trans-Siberian Orchestra shows, a Disney on Ice show, and Sam Hunt, Jordan Davis, Judas Priest, John Pardi and Casting Crowns concerts. The biggest show of the year, attracting more than 7,000 people, was comedian Sebastian Maniscalco. The Covelli Centre was able to accommodate an additional 1,000 people for that show because Maniscalco performed in the round and no seats had to be blocked off, Ryan said.

It was the highest-attended event at the center since a February 2014 concert by Elton John drew 7,600.

Youngstown Finance Director Kyle Miasek said, “We are very pleased with the year. The admission tax was strong and the facilities made a profit.”

Ryan said 2025 is “off to a pretty good start. We’ve had quite a few good events. The amp will have nine major shows this year, up from six last year and we’re working on fall plans. I look to have another good year.”

The city made its final payment at the beginning of 2024 on an $11.9 million loan it took out in 2005 for its portion of the center’s construction cost.

Most of the $45 million in construction expenses were covered by $26.8 million in federal grants.

The city repaid the loan and interest from operating surpluses, the admission tax and property taxes the city receives that are specifically meant for its debt service payments.

No longer in debt, the center made infrastructure improvements in 2024, including replacing a large portion of its original roof.

“Now that we don’t have to make money to pay off the debt, we can work to make improvements to the facility,” Ryan said.

The city also borrowed $4 million in 2018 from the U.S. Department of Housing and Urban Development to pay for the $8 million amphitheater and park. The city is repaying that loan over 20 years.

The other $4 million came from naming-rights deals.

COVELLI COMPLEX FINANCES AT A GLANCE

The annual operating losses and surpluses for the Youngstown-owned Covelli Centre, Youngstown Foundation Amphitheatre and Wean Park. The center opened in October 2005 while the amphitheater opened in June 2019 and the park later in 2019.

2006: $541,298 loss

2007: $247,510 loss

2008: $310,435 loss

2009: $153,950 surplus

2010: $110,434 surplus

2011: $126,314 surplus

2012: $320,787 surplus

2013: $256,098 surplus

2014: $485,234 surplus

2015: $372,954 surplus

2016: $435,183 surplus

2017: $2,247 surplus

2018: $256,818 surplus

2019: $412,684 surplus

2020: $10,915 surplus

2021: $19,525 surplus

2022: $159,489 surplus

2023: $275,756 surplus

2024: $285,488 surplus