The city-owned ShoWare Center turned a profit in the first quarter of this year just as it did in the final quarter of 2015.
The arena made $57,897 in the first three months with revenues of $784,550 and expenses of $726,653, according to the ShoWare Center income statement through March 31. SMG, which operates the arena, projected a profit of $20,886 for the first quarter.
“It was a terrific quarter,” said Arletta Voter, ShoWare director of finance, in a report last week to the city’s Public Facilities District which helps oversee arena operations. “We came out $37,000 higher than we budgeted.”
The ShoWare Center made $142,000 in the fourth quarter of 2015 to help end last year with a loss of $254,530, its lowest deficit since the arena opened in 2009.
“We are off to a really good start in 2016,” said Ryan Hart, ShoWare director of marketing. “Attendance is about 40,000 up compared to last year with more events. T-Birds (hockey) attendance has been really strong and the Tacoma Stars (soccer club) with five to six games did really well. The Stars really picked up their attendance the second half of the season and made the playoffs. We are continuing where we left off (last year).”
Seventy events were held at the arena during the first quarter compared to 47 events in the first quarter of last year when the ShoWare Center lost $74,100.
The Seattle Thunderbirds junior hockey team, the anchor tenant, had two playoff home games in March to help boost revenue. The T-Birds remain in the Western Hockey League playoffs and the extra home games will help boost revenue for the second quarter as well. Seattle has played five home playoff games in April with crowds of 4,000 to 6,000 in the 6,200-seat arena.
“It’s going to be a strong year,” said Tim Higgins, ShoWare general manager. “It’s all about ticket sales. Soccer did well. For the T-Birds, it’s a great year. We don’t budget playoffs, both expenses and revenue, but every game we have beyond the end of the season helps the budget.”
Concerts are a big revenue booster for the arena and just this week the ShoWare Center locked up a tour stop by country singer Dolly Parton on Sept. 21. The tour opens in June in Greensboro, N.C., and includes a stop at the Hollywood Bowl in Los Angeles following the Kent date.
“She’s iconic,” Higgins said. “What a great show for this building and this market. It could have gone anywhere, so we’re glad to have it.”
Higgins said Kent drew the Parton concert because of the arena’s previous ties with Emporium Presents, a promoter with offices in Seattle, Nashville and Denver. Higgins worked with the same promoter to bring Scorpions and Godsmack to the ShoWare Center last year. Scorpions drew a sellout crowd of 6,200.
“It’s about relationships and working with a local promoter,” Higgins said.
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