Despite posting a loss of $3.3 million last year, Tim’s Toyota Center in Prescott, Az., has been a success and had a positive effect on the community, say city officials.
Despite posting a loss of $3.3 million last year, Tim’s Toyota Center in Prescott, Az., has been a success and had a positive effect on the community, say city officials.
That number is distressing to some Yuma residents, who will be voting on a similar arena-funding package in November. But city officials say the real loss was less, and point to the hotels and businesses popping up around the arena.
"We knew it wouldn’t generate enough money for operating expenses and debt service, at least in the beginning," said Greg Fister, economic development manager for the Prescott Valley, told the Yuma Sun. In reality, revenues are close to the operating expenses for the arena, with that number turning positive in coming years. More than 250,000 people attended events at the arena, and a CHL team drew 4,311 fans per game.
