Coliseum may end 2018 in the red
For one of only a few times in its 64-year history, Fort Wayne’s Memorial Coliseum will likely end 2018 in the red.
The venue’s operating budget is expected to run about a $200,000 deficit, Randy Brown, executive vice president and general manager confirmed today in an interview with the Journal Gazette.
He had alluded to the possible deficit during the December meeting of the facility’s board of trustees, attributing it to higher utility costs and dips in attendance and use days for the facility.
Although final tallies for the year aren’t in, Brown said the facility was not in financial trouble because it has a reserve fund. The venue also is showing strong bookings for 2019, he said.
With the 2018 operating budget at $7.14 million, the deficit amounts to about 2.7 percent.
Brown said he knew of perhaps three other years when the facility ran a deficit. In recent years, it has had a narrow profit margin -- last year, it showed 40,000 in 2016.
The Coliseum hosts Komets hockey and Mad Ants and Purdue University Fort Wayne Mastodons basketball, as well as concerts, conferences, trade shows and corporate and private parties, including weddings.
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