❓ Dr. Nahan questions the Treasurer about the net revenue from Optus Stadium for 2018. The answer reveals a net cost to the Government of $28.805 million due to expenses exceeding revenue.
AnsweredQoN 4877Legislative Assembly
QuestionView source ↗
I refer to page 5 of the December 2018 Quarterly Financial Results Report and I ask, what was the net revenue to the Government from Optus Stadium for the full 2018 calendar year?
AnswerView source ↗
Answered
7 May 2019
Response time
12 days
Gross revenue attributed to Optus Stadium for the 2018 calendar year was $41.986 million. Gross expenses were $70.791 million, resulting in a net cost to Government of $28.805 million.
Revenues include net income from the venue operator, returns from the operator of the Camfield Hotel, Public Transport Authority revenue and a contribution from Government for the official opening. Costs include those under the Design, Build, Finance and Maintain Contract, Public Transport Authority costs for servicing Optus Stadium, costs associated with the opening of the venue, and costs incurred by VenuesWest in maintaining the contracts.
Revenues include net income from the venue operator, returns from the operator of the Camfield Hotel, Public Transport Authority revenue and a contribution from Government for the official opening. Costs include those under the Design, Build, Finance and Maintain Contract, Public Transport Authority costs for servicing Optus Stadium, costs associated with the opening of the venue, and costs incurred by VenuesWest in maintaining the contracts.
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