Covelli Centre posts 2nd quarter profit

YOUNGSTOWN, Ohio (WKBN) – The city-owned Covelli Centre posted just a small profit for the second quarter of the year, but it is a lot better than the loss city officials had predicted.

A handful of events, including performances of the Ringling Brothers and Barnum and Bailey Circus, helped the arena post a profit of $577 for the quarter, which ended June 30.

However, city officials had been projecting a loss of almost $95,000 for the period. For the year thus far, the Covelli Centre has made more than $382,000, which is about $100,000 better than projections.

The half-year total was boosted by the arena’s most profitable quarter ever, which was the first quarter of 2014 that ended March 31. Sold out concerts by Elton John and Darius Rucker were a large part of that profit.

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