Pasadena Convention Center and Rose Bowl Report Finances to City Committee

The Pasadena Center Operating Company (PCOC) and the Rose Bowl Operating Company (RBOC) delivered financial updates to the city’s Finance Committee on Monday, Feb. 6, showcasing gains in tourism and revenue collections.

According to PCOC’s report, operations revenues and collections from the Transient Occupancy Tax and Tourism Business Improvement District are exceeding expectations for the first half of the year. This, combined with expenditures that are trending below budget, has resulted in a positive gain of $3.9 million for the fiscal year, according to the report.

“While some of this positive gain can be attributed to Transient Occupancy Tax, most of the gain is from operating revenue at the convention center, civic auditorium, and ice-skating rink,” PCOC’s report to the committee reads. 

RBOC’s report to the committee highlights the revenue generated from events such as the Mexico vs. Peru soccer match, KAMP concert, and UCLA Football games, among others. 

Although the net income from UCLA football games was lower than budgeted, the report states that the shortfall has been more than covered by the strong calendar of events at the stadium, with that trend expected to continue throughout 2023.

As per the report, RBOC’s net income from Mexico vs. Peru Soccer Match attended by 54,857 people last September is at $414,754.

The Preliminary UCLA Projection from September to November 2022 generated a net income of $3.63 million, lower than the budget of $4.35 million.

The two day KAMP concert held last October generated a net income of $935,107.

The report also indicates income generated from the flea market from October to November and from the golf complex in November.

“Net income from UCLA Football Games is lower than the budget; however any shortfall has been more than covered by the stadium’s strong calendar of events the first half of the fiscal year. That trend is expected to continue through 2023,” the report states. “The Flash Reports show continued strength from both the flea market and the golf courses.” 

“The finances, particularly at the Rose Bowl really really improved and I’m excited about everything that’s happening at the Rose Bowl,” Mayor Victor Gordo remarked at the meeting.