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Stadium district credits Superdome renovation and Super Bowl for recent revenue; debt service and team entitlements remain large obligations
Summary
The Louisiana Stadium and Exposition District told the Senate Finance Committee that Superdome renovations and high‑profile events helped revenue but FY26 includes large debt‑service and team entitlement obligations; statutory dedications (hotel tax, nonresident player tax, slot revenues) fund most operations.
Chas Nicholson of Senate fiscal staff presented the Louisiana Stadium and Exposition District’s (LSCD) FY26 recommended budget to the Senate Finance Committee and described the financial effects of the Superdome renovation and major events such as Super Bowl 59.
Nicholson told the committee the agency’s historical spending rose from about $108 million in FY18 to roughly $138.9 million in FY24, driven in part by lost revenues during COVID and the later completion of the Superdome renovation. He said the FY26 recommended operating budget is approximately $125.3 million and that the agency relies heavily on statutory dedications — chiefly the New Orleans Sports Franchise Fund (a 1¢ hotel tax in Orleans Parish), the Sports Facility Assistance Fund (state income tax on nonresident players), and a Sports Franchise Assistance Fund that receives slot machine revenue from the Fairgrounds racetrack.
Daniel Burke, director of finance for ASM Global, which operates LSCD facilities under contract, thanked the legislature and the governor for funding the Superdome renovation and for support during the Super Bowl. “We’re grateful for the State’s financial support of the Superdome renovation and grateful as well for the resources committed by the state to ensure a successful Super Bowl weekend,” Burke said.
LSCD representatives told the committee that approximately 84% of FY26 revenue comes from self‑generated sources tied to events and local taxes. The budget shows large, ongoing obligations: roughly $29.2 million in debt service for facility renovations and about $42.7 million in team lease entitlements for the Saints and Pelicans (the FY26 split: $25.8 million budgeted for the Saints, $16.9 million for the Pelicans). Nicholson also noted risk‑management premiums and capital replacements as recurring operating costs.
Nicholson said the agency’s discretionary vs. non‑discretionary split leaves most funding available for operations and entitlements rather than fixed obligations. Committee members asked for more detail on statutory dedications and year‑over‑year collections; Nicholson and ASM staff said they would provide a historical breakout of collections and how each statutory dedication is allocated.
No committee action was taken; staff said they will supply requested documentation on statutory dedications and revenue collections.
