Stampede gallops to profit for first time in three years yyc
“Funds were primarily used to cover operating costs incurred during the period when the Calgary Stampede revenues were reduced and deficits were incurred.”The exhibition said $8.9 million of that $10 million was received last year, with the remainder coming in 2023.The Calgary Stampede will continue to monitor the impacts of the pandemic on the community it serves and will adjust to the situation as required,” it said in its financial statement.
That boost from government was acknowledged by Stampede CEO Joel Cowley, who also pointed to 2022 attendance of 1,216,859 — just 60,000 people shy of the pre-pandemic 2019 figure — the second-highest turnstile count ever.Article content “Even though we went into it with some uncertainty, we were just overwhelmed by the community support,” said Cowley.‘It’s going to take a lot of normal years to get us back to 2019’Cowley said other non-profits also receive those funds, adding the return on investment from the Stampede in 2019 was $540 million — $282 million of that coming from the summer extravaganza.
“The province clearly recognizes the impact the Stampede has not just in Calgary, but Alberta,” he said. The most bruising entry on the exhibition’s balance sheet due to the pandemic were gross revenues over the 10 days of Stampede, which went from $85 million in 2019 to just $307,000 in 2020.Article content
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