INTRUST Bank Arena Turns Profit

April 14, 2010

By Kim Hynes (WICHITA, Kan.)

The INTRUST Bank Arena has made a profit since opening in January. The Sedgwick County Commission received its first financial update Wednesday.

After hosting 19 events, the arena has profited $321,709. Those events attracted more than 93,000 people. The ticket sales generated $2.5 million. But Assistant County Manager Ron Holt told commissioners that arena manager SMG gets less than 10-percent of that income. He says the arena makes most of it's money from food and beverage sales along with premium seating.

Holt says the artist, artist's manager and promoter get most of the money from ticket sales. He says promoters are huge in keeping events coming to the arena. He says if a promoter has a bad experience and doesn't make a lot of money, they're less likely to bring more events in the future.

If the arena continues making money, the county could also profit. The way the contract works is at the end of each year SMG gets the first $450,000 in profits. Sedgwick County gets the next $450,000. After that it's split, Sedgwick County gets 60% and SMG 40-percent.

Holt warned commissioners that profits may fall a bit in the summer because the event schedule will slow down. Not as many acts tour in the summer months and those that do prefer outdoor events.

If you're interested in looking at arena financial documents that are public, they are available at the county manager's office. Holt says binders will always be on hand for those interested. The manager's office is on the third floor of the county court house.

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