Covelli Centre Earns First Quarter Profits

The Youngstown-owned Covelli Centre made first-quarter profits of more than $60,000, a report released by the city Friday shows.

The Covelli Centre made $60,248 through the first three months of the year, mostly because the venue hosted the state’s middle school and elementary school wrestling tournaments, and sold out concerts featuring Kid Rock and Rascal Flatts.

The venue is coming off its most successful year. The center made the city more than $320,000 in 2012.

In the first quarter of 2013, food and beverage accounted for $21,326 in profits.

The center fell short of its $98,979 goal in the first quarter. Eric Ryan, the executive director of the Covelli Centre, wrote to the mayor and city council members that the shortfall was expected because of costly utilities at the begging of the year and event changeovers.

The city also collected $45,064 from the city’s 5.5 percent admissions tax.

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