Published on November 1st, 2012 | by James Conley0
Pittsburgh Businesses Losing $2.2M on Canceled Penguins Games
Visit Pittsburgh CEO Craig Davis says downtown businesses are being robbed of some $2.2 million per contest during canceled Penguins games this fall due to the ongoing NHL lockout.
“For every game not played in Pittsburgh, that’s a loss of $2.2 million to the local economy and that can really add up.
“Torontonians come down in masses; Canadians come down in masses to attend the hockey games,” he says. “Just sit outside at the Marriott and have a drink and watch the buses, all the buses are from Canada.”
After losing three preseason games and 11 home contests through October and November, Pittsburgh businesses have lost out on some $30.8 million in Penguins-related revenues already.
Revenues aren’t the same as profits, something the NHL is quick to point out in defense of its rising cost structures. However, the city of Pittsburgh stands to lose out on some $96.8 million on three preseason and 41 regular season home contests, should the lockout cancel the entire season.
And if the playoffs are lost (and the Penguins are annual participants), that’s an estimated $3.3 million per first round playoff game, and perhaps more if the Penguins advance further into the postseason.
The city of Pittsburgh stands to lose over $100 million if the NHL season is canceled entirely.
That’s before a $7.5 million annual subsidy for the mothballed CONSOL Energy Center is taken into account.
Image Mike Darnay