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People's Daily Online>>China Business

Olympic venues could be 'white elephants' without more revenue (3)

By Wang Wen  (China Daily)

10:34, January 16, 2012

The center's income comes primarily from sponsorship, according to Anschutz Entertsinment Group (AEG), one of the world's leading sports and entertainment presenters, which operates the MasterCard center. About 70 percent of the center's profits come from sponsorship, including fees from naming rights and founding partnerships, said John Cappo, president and chief executive officer of AEG China.

Because there is little ancillary income from parking fees and food and beverage sales, merchandise sponsorship and arena rental account for most of its income, he said.

"We do not have the many other revenue sources in China that exist in the US or UK," Cappo said.

Experts agreed that only by exploring more flexible and diverse commercial solutions can these venues escape from becoming white elephants.



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