Beijing Claims Profit On Olympic Hosting

From AP:

Beijing Olympic organizers say they made a profit out of hosting last year’s Summer Games.

According to figures released Friday by the government audit bureau, $2.8 billion was spent on organizing and staging the Games, including the Paralympic Summer Games that followed.

That compares to income of $3 billion thus far, leaving a profit of $176 million, the bureau said. The biggest chunk, accounting for 40 percent, came from broadcast and marketing rights, along with sales of tickets, souvenirs, and commemorative coins and stamps.