YOUNGSTOWN, Ohio (WYTV) –– At a time when concert halls and arenas were losing millions because of the COVID-19 pandemic, operators of Youngstown’s Covelli Centre say they managed to make out a small profit last year.
According to figures released Friday, the downtown arena showed a profit for 2020 of just under $11,000, essentially breaking even.
Operators had projected making more than $300,000 for the year.
But executives with JAC Management, who operate the arena, claim many other venues around the country were forced to close for good because of the pandemic.
Approximately $104,000 was collected in admission taxes for the year as well.
The Covelli Centre still has more than half its staff on layoff. JAC Management claims the entire entertainment industry was essentially shutdown for five months last year because of the pandemic.