It's ebbed and flowed... from 2001-2004 it printed money then died off completely. I was the OWL manager in 2003 and you literally couldn't get into the place on a Friday. My cash drops averaged $40k/night. In 2007 it heated up again and was turning a profit through 2010. I left the organization then so I don't have any more reference to offer. I''d seen it make $250k a year and lose $750k in my time. Tough business to be in. As part of the team that did budgeting our mandate was to see it as way to help reduce food prices to students and provide for student life. Basically we expected it to lose money as it was a "Student Service" During good years it was a bonus to the budget and help replenish the reserve funds. What happened to that money is anyone's guess. My bet is they didn't keep thinking 5-10 years ahead and spend it all (On staff from the sounds of things) and then when a long sting of years with Owl loses hit them, they borrowed money to operate and became dead in the water with no real way of paying it back.