The KFC Yum! Center reached its first anniversary yesterday and the Louisville Arena Authority believes the facility "is a hit, with a glowing reputation, and it's on schedule to make a profit," according to Jeffrey Lee Puckett of the Louisville COURIER-JOURNAL. As an entertainment venue, KFC Yum! Center was ranked No. 10 nationally and No. 24 worldwide by concert trade publication Pollstar in July. The Univ. of Louisville men's and women's basketball teams both "set attendance records, respectively finishing third and second nationally." UL AD Tom Jurich said, "I think it's exceeded all of our expectations." Business owners "who came downtown to take advantage of the arena, primarily restaurants, said they are encouraged and largely satisfied after their first year, although most are still making adjustments." Louisville Arena Authority Chair Jim Host said, "It has been far more successful than I ever dreamed it would be. The facility has worked beautifully, and the concert reception and the utilization of the facility by the public has been fantastic." Puckett noted of the 28 events "not affiliated with U of L that have been staged since last October, only a handful were disappointments, sales-wise." Host said that he has "crunched the numbers repeatedly and feels certain that the arena will show a profit of between $500,000 and $1.2 million in its first year, and is betting on it being closer to the latter." He added that "projected expenses have been consistent with actual expenses, while revenue from concert tickets has exceeded expectations." He indicated that only revenue from "suite ticket sales has been a disappointment ... as many fans have been content with regular seating." To keep the momentum going, the Arena Authority has hired Nashville-based Venue Solutions Group, a "company that studies facility management, to do an audit that will be completed in November" (Louisville COURIER-JOURNAL, 10/10).
