United Group Insurance

Western Iowa arena manager says finance improving

News

April 19th, 2014 by Ric Hanson

COUNCIL BLUFFS, Iowa (AP) — The general manager of the Mid-America Center in western Iowa’s Council Bluffs says the arena’s financial outlook is improving. Mark Vacanti with Caesars Entertainment tells the Council Bluffs Nonpareil that the city-owned arena and convention facility finished fiscal year 2013 with a $729,000 loss. Vacanti says that was below the average annual loss from the previous 10 years. But he notes that from October through December, the facility — which sit just across the Missouri River from Omaha, Neb. — showed a $52,000 profit.

A portion of the $729,000 loss, provided by Caesars’ accounting staff, was a company investment of $67,000 for replacing equipment and utilities. So far this fiscal year, Vacanti says, the Mid-America Center is showing a profit of $19,000.