The XL Center is expected to lose $3.5M in gross revenues, with operating losses pegged at $1.8MGETTY IMAGES
The XL Center has "lost millions of dollars in revenue" during the ongoing pandemic, with "dozens of events canceled that could have drawn more than 200,000 people," according to Kenneth Gosselin of the HARTFORD COURANT. Hundreds of workers have been "idled," and revenue losses are "expected to extend well beyond June 30" and into the next fiscal year. Capitol Regional Development Authority Exec Dir Michael Freimuth said that the XL Center "may have televised-only events that could bring in revenue with minimum expenses." However, Hartford Mayor Luke Bronin said that the slowdown "might have an upside" for a planned $100M renovation of the XL Center. He said, "If there was ever an opportunity to take advantage of a lull in activity and push construction forward, this might be it." Gosselin notes "acquiring the privately owned atrium outside the XL Center arena is considered crucial" to the $100M renovation plan. The XL Center is "expected to lose" $3.5M in gross revenues, with operating losses for the fiscal year ending June 30 now pegged at $1.8M. A total of 111 full-time workers have been "furloughed, plus 'several hundred' part-time workers" (HARTFORD COURANT, 4/17).
