MECA Reports $4 Million Net Profit

By: WOWT 6 News Email
By: WOWT 6 News Email

The Metropolitan Entertainment & Convention Authority (MECA) earned a consolidated net profit of $4 million before depreciation and amortization and $1.96 million after depreciation and amortization in fiscal 2012-2013. This profitable performance was an increase of more than 30% over the previous fiscal year.

CenturyLink Center Omaha welcomed nearly 1.2 million guests through its doors in fiscal 2012-13. The 2012 U.S. Olympic Team Trials-Swimming, U.S. Figure Skating National Championships, NCAA Division I Women’s Volleyball Regional and the Deere & Co. International Convention contributed to the solid attendance numbers.

Officials said future attendance looks promising with the return of four major sporting events. USA Swimming announced CenturyLink Center Omaha will host its third Swim Trials in 2016. The NCAA will bring March Madness back to Omaha with the NCAA Division I Men’s Basketball Tournament 2nd and 3rd Rounds in 2015. CenturyLink Center Omaha will also host the FIVB World Grand Prix Volleyball Finals and the NCAA Division I Women’s Volleyball Final Four in 2015.

“The bidding process for these sporting events was extremely competitive and we are proud that CenturyLink Center Omaha will get another opportunity to put Omaha in the national spotlight,” said MECA President and CEO Roger Dixon.

TD Ameritrade Park Omaha hosted an exciting Creighton University baseball season and its third NCAA Men’s College World Series in June 2013. The CWS broke its attendance record welcoming an historic 341,483 fans. The event was again financially successful generating adequate net revenue to cover the debt service payments and the NCAA guarantee. MECA is excited to host its first Big Ten Baseball Championship at TD Ameritrade Park Omaha in May 2014 with the University of Nebraska-Lincoln.

To keep CenturyLink Center Omaha state-of-the-art without requiring taxpayer support, MECA will spend a total of $10 million from cash reserves through the next fiscal year to make needed updates and improvements to the 10-year-old facility. Major projects include a new, one-of-a-kind and fully High Definition (HD) arena scoreboard and video control system, refreshed concession stands with new food service equipment, digital menu boards and menu items, and a completely remodeled Club Lounge rebranded as the Lexus Club with a unique sponsorship with luxury car maker Lexus.

In order to continue to maintain the facility and make needed improvements in years to come, an additional $4.6 million was added to cash reserves, bringing the balance to $20.4 million.

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