Northlands continues to add BIG excitement to Edmonton

Monday, April 19, 2010

MEDIA RELEASE

Annual General Meeting caps off strong 2009

EDMONTON, AB –  In 2009, Northlands energized the Edmonton region with new opportunities in business, entertainment and agriculture. From the official opening of the $150 million Edmonton EXPO Centre to national accolades with Rexall Place being named the third busiest arena in Canada, Northlands continued to treat Edmonton to the biggest sporting events and world-class entertainment the city has ever seen.This was the message delivered to the volunteer shareholders at Northlands’ 130th Annual General Meeting held this evening.

Northlands’ financial performance in 2009 was well positioned as compared to many other Canadian businesses that have been adversely impacted by the global economic slowdown. Total annual revenue for 2009 was $135 million, representing a 3.5 per cent decrease from 2008. But that’s not the real story. Net earnings were $2 million, up from $566 thousand in 2008, demonstrating Northlands business expertise within a challenging economic climate. For 2010, Northlands is predicting another year of economic uncertainty. Although the pace of economic growth is expected to improve in 2010, we will manage costs with the same rigor as 2009.

In a year (2009) defined by a global economic recession, Northlands completed the $150 million Edmonton Exposition and Conference Centre. The Edmonton EXPO Centre is unquestionably the premiere exhibition venue in Western Canada and the largest of its kinds outside of Toronto.  Northlands also made changes to streamline its governance structure. The organization created a Board of Governors made up of former Honorary Life Directors, and reduced the size of the elected Board of Directors – from 18 to 12, to be phased in over three years. These adjustments are in line with industry best practices. These positive changes will put Northlands in the best position to make good decisions and provide the strategic oversight to help Northlands thrive.

Venues Today named Rexall Place one of the top ten venues in the world and Pollstar ranked it the third busiest in Canada. Forty-two concerts, 13 family oriented shows, five comedy acts and an abundance of sporting events – in addition to Oilers and Oil Kings hockey action – helped Northlands achieve ticket sales just 5000 shy of Toronto’s Air Canada Centre.

“The global economy was hard on everyone in 2009,” said Andy Huntley, Chair of Northlands Board of Directors.  “Though we certainly felt its impact at Northlands, our management team deserves a lot of credit for making the necessary adjustments in a shifting economy - validating that our business model is solid. We attracted over four million visitors to over 2500 events, generating economic activity in excess of $1 billion.”

As Northlands continues to drive the Edmonton region to future growth and prosperity, the organization will be guided by a number of key strategic priorities: racing and gaming sustainability, growth through the Edmonton EXPO Centre, and positioning Northlands as key contributor to Edmonton’s arena discussion.

“The path ahead for Northlands is not without its challenges, but as an organization we will continue to forge a strong leadership role by providing world-class entertainment, community service, business development and agricultural programming in Edmonton and north-central Alberta, added Huntley. “Northlands will be part of an important industry conversation that will determine how Alberta’s racing industry can be sustainable. We will position the Edmonton EXPO Centre to contribute significant economic impact in the Edmonton region. In 2010, we will continue to support the potential for a downtown arena that is financially viable and in the best interests of the entire community.”

A SNAPSHOT OF 2009 AT NORTHLANDS
 

  • Approximately, 717,245 visitors took in Capital EX. With the Canadian premieres of Cirque Shanghai Bai Xi and the FlowRider Mobile SURF party as well as the International Association of Fairs and Exhibitions (IAFE) Attraction of the Year Wild World of Lions, fairgoers of all ages had the opportunity to take in big live experiences. 
  • The Edmonton Indy was an operational success with 24 cars on the starting grid. Northlands has proven to be an effective race operator and the Indy Racing League is very happy with the caliber of the event that was produced.  The race was seen in over 143 million homes across 36 countries.  Driver Will Power captured the checkered flag as race fans saw the very best in open wheel racing right here in Edmonton.
  • Pollstar named Rexall Place the third busiest arena in Canada  thanks to solid attendance at a spectrum of sporting events, 42 concerts, 13 family shows, five high profile comedy acts and what could be considered the most spirited event of the year, the Roar of the Rings. Northlands hosted as much curling as you could pack into nine days, igniting curling fans’ Olympic spirit as Canada selected the men’s and women’s curling representatives for the Vancouver 2010 Olympic Games.
  • Canadian Finals Rodeo attracted almost 83,000 fans over six performances. With the country’s best cowboys and cowgirls competing for a record $1.27 million dollars in prize money this year, Northlands is proud to be the home of the Canadian Finals Rodeo. In fact, Northlands and Canadian Pro Rodeo Association signed contract extension keeping CFR in Edmonton through 2016.
  • Northlands Park hosted 132 days of high calibre horse racing. The Canadian Derby garnered the highest single-day wagering total for live racing in Edmonton in nine years when almost $1.1 million was bet and then the 2009 Alberta Fall Classic produced a double-digit increase in wagering.
  • Despite a soft agriculture market we had an overwhelmingly positive response to changes made to Farmfair International and the Northlands Farm and Ranch Show. Next year will bring even more innovations to programming for this sector.

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Northlands rocks Edmonton with 2,500 events each year that attract over 4 million visitors to Alberta’s Capital City. Think Canadian Finals Rodeo, Farmfair International, Capital EX, Honda Indy Edmonton, the best of horse racing, headliner concerts, international events and all the trade shows you can handle. Visit northlands.com to find out more.

for more information, call 780-471-7210 or email info@northlands.com