American Airlines Center Celebrates 10th Anniversary
Taxpayer-owned facility hailed as superb investment for Dallas
(July 28, 2011-DALLAS) Today, July 28, 2011, American Airlines Center celebrates 10 years of operation in downtown Dallas. The taxpayer-owned facility, home of the Dallas Mavericks and Dallas Stars, is one of the top entertainment facilities in the world.
As of this week, 26 million guests will have attended events at American Airlines Center since the Guinness record-breaking ribbon-cutting July 27, 2001. The Eagles provided the first entertainment experience at the new venue on July 28, 2001. Since then, American Airlines Center has hosted approximately 1,800 events including the NBA Finals and All-Star Game festivities, the NHL All-Star game, NCAA men’s and women’s basketball tournaments, and events featuring some of the greatest names in live entertainment.
In 1998, Dallas voters narrowly approved $125 million in bonds, backed by hotel and rental-car tax receipts, to help pay for construction of a new arena. At the time, the Stars and Mavericks owners promised to invest $100 million more to build the new structure. However, the owners spent well over what was promised and invested a total of $287 million and delivered a world-class facility.
That has paid off for Dallas taxpayers in many ways. In fact the city’s bonds will be paid off this year, some 17 years early which saves taxpayers millions of dollars in interest and erases the City’s debt on the building. Why? AA Center has been enormously successful, proven by an economic study conducted this year. According to Conventions Sports and Leisure (CSL), the venue has:
• Generated approximately $3.1 billion in direct spending
• Paid $3.4 million to the City in annual rent
• Set aside $1 million a year for the building’s capital expenditure fund, a total of $10 million) so that repairs and improvements are not charged to the taxpayers. However, team owners have actually invested nearly $26.5 million in the building.
• Construction and ongoing operations produced 6,200 jobs and $2.6 billion in personal earnings.
“The American Airlines Center is one of the premier public/private partnerships sports projects in the country. The Center has continued, since its opening, to impact the City of Dallas and the Metroplex in a variety of ways, including increased tax revenue, jobs and payroll,” said Bill Rhoda who heads CSL, the company that conducted the study.
“The team owners promised Dallas citizens a world-class facility, and they delivered,” said Brad Mayne, president of Center Operating Company, the company which operates American Airlines Center. “In fact, the owners under-promised voters in 1998 and obviously over-delivered on this building. All of us at COC are dedicated to continue the delivery of an excellent experience for our guests and fans.”
Former Mayor Ron Kirk, who led the campaign for the arena and who now serves as the United States Trade Representative, said American Airlines Center was a turning point for downtown.
“The decision to build American Airlines Center changed the face of Downtown Dallas and brought millions of people into the downtown area who otherwise would not have visited, said Kirk.”
In addition to the economic benefits to Dallas, non-profit organizations across North Texas have gained as well. Charitable contributions made by American Airlines Center, vendors, employees, the Dallas Mavericks and the Dallas Stars have exceeded $15 million since the American Airlines Center project was approved and the Center opened in 2001.
To review the American Airlines Center Economic Impact Study Click here
Marketing & Public Relations Manager
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