Quote:
Originally Posted by The Reaper
Rumor is that it is costing Glendale more than they will make, since Phoenix and Scottsdale are where most of the attendees will be staying.
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That's been the trend for years. Before the Super bowl, Indianapolis crowed about how much money was going to come in and the city and state would make a ton....after.....*crickets*.
LINK
INDIANAPOLIS -
The final numbers are in. It turns out the city's Capital Improvement Board lost more money than it expected hosting Super Bowl XLVI.
CIB president Ann Lathrop calls it a small financial loss that was well worth the investment.
Monday afternoon, Lathrop said the CIB took in nearly $2.9 million more in hospitality taxes the first two months of this year over last year, which was just four percent below projections.
"We were off a little bit in hotel motel taxes, but were over in food and beverage and auto rental," Lathrop said.
With expenses slightly more than projected, the CIB wound up losing roughly a million dollars hosting the Super Bowl - or $250,000 more than expected.
The single biggest expense it incurred was paying for the added police and fire protection.