NHL Lockout is Harming a Variety of Businesses and Causing Lost Revenue
As the NHL enters its second month of the lockout, a variety of businesses are suffering. Ticket revenue is lost and the hockey players are losing out on their wages, but merchandise vendors, bars, restaurants and sports betting review sites are also losing money
(firmenpresse) - BOSTON, MASSACHUSETTS -- (Marketwire) -- 11/19/12 -- This week NHL players missed out on their third paycheck, which amounts to 19.4 percent of their season's pay lost. The , for example, have lost over $8.5 million in players' wages while the have lost $9.3 million.
The NHL lockout is causing most teams to lose money, and it's not only the NHL players who are losing out. Millions of dollars in ticket revenue have been lost, with the Montreal Canadiens having lost almost $23 million. While the NHL was initially an industry valued at $3.3 billion, the most the league will be valued at if it starts up again is $350 million. The lockout is also having a negative effect on the NHL league offices, where a four-day workweek has been imposed and workers are taking pay cuts.
The lost revenue and negative effects of the NHL lockout extend far beyond the NHL players and league workers. While millions of dollars are currently being negotiated, the middle-class owners of retail stores, bars and restaurants are the real losers in this situation, suffering the most.
Bob Reaume, the owner of a sports store in Windsor, Ontario explains that the NHL lockout is taking its toll on his business. Reaume explains, "We're probably off a good 30 or 40 percent on what we would normally sell in hockey apparel. We'd have a lot of jerseys going out on a continual basis - they're high-ticket items - and that's just not happening." Fans are more inclined to buy hockey-related items when games are being played, and the lockout has noticeably affected the sale of personalized jerseys and signed jerseys.
While retail stores, especially those that specialize in hockey, are struggling to keep afloat, restaurant owners and hotel chains are also suffering from the lockout. Without the NHL, fewer fans are traveling to watch to watch the games, impacting hotels' business and pubs' sales. Beer giant Molson Coors has also reported reduced beer sales, and they plan on seeking financial compensation from the NHL at the end of the lockout.
Arena workers are losing pay for each canceled game, sports betting review sites like are losing revenue and the lockout is even thought to be harming satellite radio.
Contacts:
SportsBettingWorld.com
Kimberly C. Pons
781-329-3124
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Datum: 19.11.2012 - 14:00 Uhr
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