Events Center Complex loses $2.5 million in past year

Of course, it was no surprise they lost this much, it was just a little unusual we heard it at a SF City Council informational meeting from the finance director. The complex (EC, CC and Arena) was probably expected to lose money during Covid, but as I have mentioned over the past few days and weeks, the Denty hasn’t exactly been that stellar in attendance for well over a year and trust me, the bleeding of the complex will continue well into 2021.

What was not included in the discussion is the $10 million a year bond payment the taxpayers will continue to have to pay out of our 2nd penny (which should be spent on needed infrastructure and roads). We will also have to keep the lights and heat on as well and timely maintenance while the city’s finance director has given sponsors a pass on paying their dues.

While the management company has said they laid off many people, what they didn’t mention is if the executives took a pay cut? I mean really? What are you doing right now? I can only imagine they have all built George Costanza beds under their desks. Why not just furlough the entire management company until we can start booking shows again? Why are the taxpayers subsidizing these salaries?

The Washington Pavilion, as I understand, cut 25% of their workforce, for that very reason, if you have no shows, you don’t need people to work them.

As I said, the Denty was already bleeding, and this place will eventually become the dented up yolk around taxpayers necks for decades. I don’t expect the place to turn a profit again for at least 5 years, but that’s okay, we can keep digging into the taxpayer’s pockets even though almost 50% voted against it.



5 comments ↓

#1 scott on 09.22.20 at 8:14 pm

didn’t a lot of the original sponsors not renew when their initial contracts were up even before covid?

#2 l3wis on 09.22.20 at 8:30 pm

As I understand it, some did, but the city is giving them a pass on paying sponsorship dues during covid. I wonder if we can call the bonding company and get a pass on paying the mortgage this year? Oh, that’s right, taxpayer’s pockets are bottomless pits.

#3 D@ily Spin on 09.23.20 at 9:20 am

Send Huether the bill. He’s responsible. The city can’t afford another Washington Bazillion. Why is it that the area was booming and is still doing well while everything the city does is in the red? The sales tax base is mostly from outside city limits. Even stealing from the neighbors doesn’t help. Is the problem runaway spending from city corruption? Some day we can go back to infrastructure improvements and regular maintenance. Some day contracts will no longer be awarded without competitive bids at twice the price. Some day we might open the arena and bathhouse to the public. Meanwhile, how about cardboard images in the seats.

#4 qanominous on 09.23.20 at 12:59 pm

well since ol’ toby kieth pussied out how do u expect it to make any money

#5 hoof_hearted on 09.24.20 at 2:20 pm

can you share any event centers that turned a profit during covid? What did other event centers do during the last 6 months that the denty should have did different?