ALBANY, NY (CelebrityAccess) — ASM Global and Albany County officials revealed that the ASM Global-managed MVP Arena had a record-breaking year in 2022, generating net profits of more than $2.3 million.
The tidy profit at MVP Arena was generated by 106 events that were presented in 2022, drawing more than 434,000 fans to venue. That figure breaks the previous net profit record set for the arena, which recorded net profits of $2,188,761 in 2000 if we ignore the pernicious impact of inflation over the last 22 years.
Shows at the arena last year included concerts by John Mayer, Journey, Korn, Casting Crowns, Slipknot, Roger Waters, Cody Johnson, My Chemical Romance, Luke Combs, Greta Van Fleet, Judas Priest, Trinity of Terror and Trans-Siberian Orchestra, as well as family events such as Disney On Ice and the Harlem Globetrotters.
The arena also hosted sports events such as Arenacross and the Professional Bull Riders association, and entertainment offerings as professional wrestling events that included the WWE’s SmackDown and Raw, and AEW, who debuted at the arena for the first time in 2022.
Located in Albany, the multi-format arena first opened its doors in 1990 and features a maximum capacity of 17,500 fans. The arena currently serves as home turf for the Albany Hyenas, the Albany Firewolves, and the Albany Empire.
“The pandemic may have knocked us down, but MVP Arena has come back stronger than ever. The proof is in the numbers as we set a new record for net operating profits since Sinatra played the first show in 1990 and after welcoming some of the biggest names in music, comedy and more to Downtown Albany this year,” said Albany County Executive Daniel P. McCoy. “Additionally, we’ve now invested $43 million into arena enhancements over the last four years alone with the NCAA March Madness and other great events scheduled for 2023. In the words of the great Frank Sinatra: ‘The best is yet to come.’
“Our patrons, corporate partners/advertisers and suite holders are the key to this facility’s success. “The 2022 schedule of events at MVP Arena was excellent, and the residents in Upstate New York, Western Vermont and Massachusetts attended our events heavily once the COVID-19 restrictions were lifted. People were happy to get out and attend their favorite concerts, family shows and sporting events,” said Bob Belber, MVP Arena general manager.