(AP) — New numbers show Lincoln’s new Pinnacle Bank Arena in the red in its first year.

The arena was nearly $172,000 in the red at the end of January, just more than five months after opening.

City leaders are hopeful they can make up the loss. They say revenues were limited during three months in which the arena was monopolized by Nebraska men’s and women’s basketball games. Those games bring in much less money than big-ticket concert events.

Steve Hubka, city finance director, says the city still expects to break even by the end of the year.