HARTFORD — Hartford’s XL Center arena – shutdown in the coronavirus pandemic – could reopen in late fall but the quasi-public agency that oversees the venue is expecting half the typical revenue and steeper operating losses.
The 16,000-seat arena could see its annual operating losses rise to $5.8 million for the fiscal year beginning July 1. Typically, the loss is about $2 million, but it rose to about $4 million this fiscal year, as the arena was forced to close losing the spring season.
About half of the loss has been subsidized by state taxpayers in the past, but that would grow with a shortened year, less events, fewer fans and less parking receipts from the Church Street garage that support the arena financially.