13.Jul .2022 17:00

Black Sea Arena Suffered A Loss of GEL 5 MLN

Black Sea Arena Suffered A Loss of GEL 5 MLN
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LLC "Black Sea Arena" has published its 2021 financial report. According to the document, the loss of the state-owned concert hall in 2021 was GEL 5 million last year.

The loss was mainly due to the fact that no concert was held in the concert hall in 2021. Despite this, the company employs 107 full-time employees, to whom it paid GEL 2.4 million in salaries last year.

In 2021, the state subsidy given to the company increased to GEL 4,350,000, which was 9% more than the previous year.

Currently, the hall is registered under the "National Property Management Agency" and its assets amount to GEL 73.8 million.

Black Sea Arena is designed for 10,000 spectators. According to widespread information, FUND CARTU paid USD 115 million in its construction.