“Cardiff’s St. David’s Hall and New Theatre have reported huge financial losses following the opening of the Wales Millennium Centre, a £106 million performing arts venue on Cardiff Bay that opened in November 2004… The two halls, which are managed together by the Welsh capital’s municipal government, ran up losses totaling £5.2 million in the 2005-06 fiscal year, up almost £900,000 from the previous year. Both venues are expected to lose an extra £283,000 in 2006-07.”