KFC Yum! Center’s Good Start

Officials with the $238 million KFC Yum! Center in Louisville, Ky., are reporting a successful first year for the venue, which is on track to make a profit.

Since opening last October, the 22,000-capacity facility has hosted sold-out concerts for top artists including Elton John, Katy Perry, Kid Rock, Eagles, Lady Gaga, Justin Bieber and Taylor Swift. The University of Louisville’s men’s and women’s basketball games have also set new attendance records.

“It has been far more successful than I ever dreamed it would be,” said Jim Host, chairman of the Louisville Arena Authority that oversees the arena. “The facility has worked beautifully, and the concert reception and the utilization of the facility by the public has been fantastic.”

Dennis Petrullo, director of booking and event development for AEG Facilities in the Louisville area, said it was especially noteworthy that so many high-priced concerts such as the Eagles, Lady Gaga, Justin Bieber, Taylor Swift and Elton John are drawing sellout crowds.

“What’s really a great sign is when you can bring in these quality shows with high ticket prices and be able to sell them,” Petrullo said. “That’s what interests promoters and agents and bands to come back into the market.”

AEG Facilities also books the city’s 19,000-capacity Freedom Hall at the Kentucky Expo Center and 6,600-capacity Broadbent Arena.

Earlier this year arena authority officials were concerned about the new venue’s profitability. The KFC Yum! Center was partially paid for with $75 million in state-backed bonds, so officials were worried that projected revenues from sales taxes would not cover an extra $3.3 million in costs related to the project.

That scenario had changed by April when officials announced they would pay back $3.2 million to the city this year based on sponsorships and other revenues.