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Report: Horseshoe boasts 41 percent increase in events
The data came from the annual report given by Michael Dooley, of the Dooley Management Co., to the Commissioners' Court on Monday.
by Courtney Bacalso
Midland Reporter-Telegram
- Horseshoe operators estimate facility's 99 events provides economic impact of more than $10 million.
By Courtney Bacalso
Staff Writer
In its second year of operation, the Horseshoe Arena received a 41 percent increase in events and officials estimate surpassing that at the end of this year, officials said Monday.
The data came from the annual report given by Michael Dooley, of the Dooley Management Co., to the Commissioners' Court on Monday.
In its first year of operations in 2006, the venue hosted 70 events totaling 126 days. While in 2007, that number grew to 99 events totaling 157 days.
With its first two years of operations, it is estimated the venue has contributed more than $10 million in economic impact with more than 223,000 people in attendance.
The county also hired a third-party firm to conduct a study on the venue's economic impact. However, County Judge Mike Bradford said it won't be ready for a few weeks.
According to data published by the county's Web site, the venue is estimated to have a net loss of $701,000 for this year -- with expenditures reaching $1 million and revenues at about $310,000.
However, members of the Commissioners' Court still contend the venue has served its intended purpose: Giving the community a multi-purpose facility to hold events.
"I think the small operations lost we have encountered is a fair swap for the economic impact the facility brings," Bradford said.
According to the report, the venue hosts events ranging from livestock shows, trade shows, horse shows, banquets, meetings, performances and private parties.
And the Horseshoe has had to turn down events due to dates being unavailable.
Since operations began at the venue, 122 events were lost due to dates already being booked, the report states.
The number of events for the first five months this year already has surpassed last year's numbers, Dooley said.
The county already has taken steps to address the venue's growth such as nearly completing the outside arena for use by large shows and local groups, which already is under way; implementing advertising and sponsorship program to increase revenues; and working next month to create premium parking area to augment all shows.
Dooley also recommended projects the court should consider in the future. They include:
- finishing the installation of power inside the entire venue so event holders do not have to use generators,
- building a barn or covering the outside arena to create a two-arena complex,
- adding seating to main arena because 2,500 seats is the needed minimum to host rodeos.
Courtney Bacalso can be reached at c.bacalso@mrt.com.
By Courtney Bacalso
Staff Writer
In its second year of operation, the Horseshoe Arena received a 41 percent increase in events and officials estimate surpassing that at the end of this year, officials said Monday.
The data came from the annual report given by Michael Dooley, of the Dooley Management Co., to the Commissioners' Court on Monday.
In its first year of operations in 2006, the venue hosted 70 events totaling 126 days. While in 2007, that number grew to 99 events totaling 157 days.
With its first two years of operations, it is estimated the venue has contributed more than $10 million in economic impact with more than 223,000 people in attendance.
The county also hired a third-party firm to conduct a study on the venue's economic impact. However, County Judge Mike Bradford said it won't be ready for a few weeks.
According to data published by the county's Web site, the venue is estimated to have a net loss of $701,000 for this year -- with expenditures reaching $1 million and revenues at about $310,000.
However, members of the Commissioners' Court still contend the venue has served its intended purpose: Giving the community a multi-purpose facility to hold events.
"I think the small operations lost we have encountered is a fair swap for the economic impact the facility brings," Bradford said.
According to the report, the venue hosts events ranging from livestock shows, trade shows, horse shows, banquets, meetings, performances and private parties.
And the Horseshoe has had to turn down events due to dates being unavailable.
Since operations began at the venue, 122 events were lost due to dates already being booked, the report states.
The number of events for the first five months this year already has surpassed last year's numbers, Dooley said.
The county already has taken steps to address the venue's growth such as nearly completing the outside arena for use by large shows and local groups, which already is under way; implementing advertising and sponsorship program to increase revenues; and working next month to create premium parking area to augment all shows.
Dooley also recommended projects the court should consider in the future. They include:
- finishing the installation of power inside the entire venue so event holders do not have to use generators,
- building a barn or covering the outside arena to create a two-arena complex,
- adding seating to main arena because 2,500 seats is the needed minimum to host rodeos.
Courtney Bacalso can be reached at c.bacalso@mrt.com.
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