Actually yes. And the revenue compounds over time. Kind of like some movies don't make back their money at the box-office, but make make a boatload back in licensing and DVD sales(and a lot of movies make money every-which way). It has only been recently, that we are seeing more Olympic hosts lose money overall, even though Beijing broke a record for actual revenue when it was all set and done, they continue to benefit from the landmarks and venues prepared for the games.
Greece's total economy has been a joke for quite some time. The sad thing is that their model isn't far off our model within the economic spectrum, along with so many other nations. But Greece would have faced their collapses(yes plural) with or without the Olympics. In fact, they were targeted to host the Olympics as a means to attempt to stimulate their economy. If anything, the Olympic Games may have delayed their collapse by a few months.
