Monday: BOK Center surpasses $10 million in sales-tax revenues
BY BRIAN BARBER World Staff Writer
Sunday, September 23, 2012
9/23/12 at 4:25 PM
Tulsa’s BOK Center quietly hit a big milestone this month having generated $10 million in sales tax revenue since opening four years ago.
Balloons didn’t fall from the sky and bells didn’t go off, but the venue’s management company, SMG Tulsa, says the figure shows a different financial dynamic to the building.
“Going into this project, I don’t think the sales-tax creation was really talked about that much,” BOK Center General Manager John Bolton said, adding at least half of the revenue comes from patrons who live outside Tulsa County.
“The BOK Center has certainly been a fantastic addition to the coffers of the city, county and state.”
Financial reports show that since the arena opened in September 2008 until August, it netted $115,774,543 in tickets, concessions and merchandise sales and remitted $9,974,540 in sales taxes.
The $25,460 remaining before the $10 million mark was brought in, and surpassed, this month, BOK Center Finance Director Tom Simpson said.
That doesn’t take into account of account all of the indirect tax revenue brought in by arena attendees who have drinks and eat out before or after a show or stay overnight at a hotel, Bolton said.
The BOK Center also continues to realize a large operating profit at the end of each fiscal year, reports show.
Read more in Monday's Tulsa World.