SBD/7/Facilities Venues

DENVER GIVES UP ITS SEAT AND ASCENT LOOKS TO CASH IN

          Ascent Entertainment will earn "about" $4M more a year
     from Avalanche and Nuggets ticket sales at the new Pepsi
     Center arena because "it won't have to pay" Denver's 10%
     seat tax, according to Kevin Flynn of the ROCKY MOUNTAIN
     NEWS.  Since it will build the arena, Ascent "can bank that
     money, and use it to help meet the debt" of the proposed
     $160M arena.  While Ascent "wants to break ground" in three
     weeks, a full agreement is expected this month which "calls
     for city subsidies in the form of property tax elimination
     and sales tax givebacks.  But Ascent will privately secure
     the bulk of the financing" (ROCKY MOUNTAIN NEWS, 10/6).

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