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Beijing Olympic Organizers Report $176M Profit From Games
Published June 19, 2009
CURB YOUR ENTHUSIASM: REUTERS' Xin & Wheatley note most Olympic host cities "make money from running the Games -- Athens in 2004 reported an initial operating profit of $155[M] -- but the bills for building stadiums and other infrastructure can take many years to pay off." The bureau said that that the profit was "more than double the most recent estimate" of $60M (REUTERS, 6/19). The WALL STREET JOURNAL's J.R. Wu writes what is "clear is that China is bent on molding a positive Olympic legacy for itself," and "audit figures won't reflect the true cost of hosting the Olympics since they don't include Beijing's $40[B] infrastructure buildup ahead of the games" (WSJ.com, 6/19).