Alamodome expects first profit since Spurs exit

Major bookings have led to bigger revenues as stadium officials now look to build on that momentum.

Alamodome (KSAT)

SAN ANTONIO – A busy schedule including several blockbuster events is expected to put the Alamodome in the black for fiscal 2023.

It’s the first time the downtown stadium will have turned a profit since the San Antonio Spurs left the building for a new East Side arena in 2002.

The fiscal win comes as Alamodome management is already lining up new business for 2024 and as preparations for the 2025 Men’s Final Four are underway.

“It’s the best year in the Alamodome’s history,” said Stephen Zito, assistant director of the city of San Antonio’s Convention and Sports Facilities Department.

Alamodome officials expect that once auditing is completed, the stadium will finish fiscal 2023 with roughly $21.4 million in revenue and $19.8 million in expenses, leaving a net income of approximately $1.6 million.

The 30-year-old Alamodome has benefited from a significant lineup of events, including a January Spurs game that set a new NBA attendance record, drawing more than 68,000 fans. The dome also landed multiple major stadium concert tours including Elton John, Pink, Guns ‘N Roses and Red Hot Chili Peppers.

“The reality is, not many buildings turn a profit,” Zito said, noting that such stadiums are typically counted on to generate wider economic impact.

A May study by St. Mary’s University professor Steve Nivin showed that the Alamodome has generated nearly $4 billion in economic impact since it opened in 1993.

“The Alamodome is a valued asset that has put our community on the map, time and again, and improved our quality of life on so many levels,” San Antonio Mayor Ron Nirenberg said.

The more than $21 million in revenue that’s anticipated for fiscal 2023 represents a significant increase over the dome’s pre-pandemic performance, when it generated roughly $12 million to $13 million annually.

Read the full story in the San Antonio Business Journal.

Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal.