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A profit for Albany's TU Center

By Bethany Bump
Thursday, January 24, 2013

ALBANY — The Times Union Center ended the year with a net operating profit of $826,341, up 64 percent from 2011, according to a news release issued today by center officials.

The SGM-managed center took several cost-cutting measures last year in order to keep expenses down. Staff worked four-day work weeks, 10 hours a day, during the summer months. By giving the facility's air conditioning system an extra day's rest, the center save more than $100,000 on utility costs. Indirect expenses also shrunk last year by more than $400,000.

"Our staff worked hard in 2012 to cut expenses while maximizing revenues in conjunction with excellent sports and entertainment events that were presented throughout the year," said SMG Regional General Manager Bob Belber in the release. "We also want to express our appreciation to the many businesses who advertise in the arena and who lease suites annually, which enables them to entertain their clients, friends and families."

Although fewer events were held in 2012 compared to 2011, attendance numbers were higher at 457,000 compared to nearly 400,000 one year earlier.

In all, 121 events were held last year. They included big-name concerts from Carrie Underwood, Aerosmith and the WGNA Country Festival, family shows including Cirque Du Soleil, Disney on Ice and the Harlem Globetrotters, and plenty of sporting events like the Albany Auto Show and Siena College men's basketball games.

Albany County Executive Dan McCoy thanked the center and its staff for putting on and retaining top-notch shows and events like the New York State Federation Basketball State Championships and Italian entertainer Andrea Bocelli.

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