KFC Yum Center Expected To Show Profit

• {Kentucky}...During its first year of operation in Louisville, the KFC Yum Center arena, which spent years in the making at a cost of $238 million, has had a dramatic effect on Louisville's entertainment, sports and downtown business scenes. Since it opened last October, it has drawn big names in entertainment, such as Elton John, Kid Rock and Katy Perry, and new attendance records have been set for University of Louisville men's and women's basketball games. Dennis Petrullo, director of event bookings for the Louisville area for AEG Facilities, which is responsible for concerts at the Yum! Center said most non-UofL events at the arena had strong ticket sales, and only a handful had disappointing sales. The Yum! Center was partially funded by $75 million in state-backed bonds. The most recent financial report for January through July of this year showed a net loss of $467,402, but Jim Host, chairman of the Louisville Arena Authority, says it doesn't include revenue from the arena's first three months or the $2 million in concert sales since July. He also noted that there will be 20 home basketball games from October through the end of the year. Host said he is confident after crunching the numbers that the arena will show a profit of between $500,000 and $1.2 million in its first year.