Times Union Center ends ‘08 with $900K operating profit

The Times Union Center ended 2008 with an operating profit of $901,405, down 19 percent of the previous year, Albany County officials said Tuesday.

Still, Albany County Executive Mike Breslin said he was pleased with the result in the midst of the economic downturn. The center ended the year with a profit as a result of cost-cutting measures, such as going to a four-day work week during the summer. That move alone saved $253,000.

The arena in downtown Albany hosted 146 events, including concerts such as Hannah Montana and Carrie Underwood, as well as the NCAA Division I Men’s Ice Hockey East Regionals.

Total attendance in 2008 was 589,585.

Breslin said the arena has recorded more than $15 million in operating profits since 1995.


Source: bizjournals.com