London city hall continues to reap the benefits of Budweiser Gardens.
A report reviewed on Tuesday by the corporate services committee shows the city gained over $377,000 from its share of the sports and entertainment centre in 2016.
While that’s the lowest figure from the past several years, it’s more than double the $140,000 the city was expecting to receive.
Budweiser Gardens made more money than expected last year, around $6 million, and upgrades to the 14-year-old facility were less expensive than anticipated.
While more renovations will be needed as the building ages, the city’s share of net proceeds has grown to 70 per cent.
City Hall still owes around $11.4 million in debt on the building, which staff expect to have that paid off in about six years.
The London Knights hockey games and London Lightning basketball games accounted for just over half of the event scheduled in 2016, followed by concerts and other entertainment performances.