Ministerial Statement

Riverbank Arena

The Hon. S.S. MARSHALL (Dunstan—Premier) (14:05): I seek leave to make a ministerial statement.

Leave granted.

The Hon. S.S. MARSHALL: Yesterday at the Legislative Council Budget and Finance Committee hearing Mr Anthony Kirchner, Chief Executive Officer of Adelaide Venue Management Corporation, gave evidence. He was asked questions about the forecast total revenue and operating costs of the new Adelaide Riverbank arena.

Mr Kirchner contacted my office yesterday afternoon to advise of errors in his answers to questions concerning the arena's projected revenue and operating costs. He advised the committee that the forecast total revenue was in the order of $100 million and the total operating costs in the order of $80 million. To correct the record, I am advised that the new Adelaide Riverbank arena is forecast to generate total revenue in the order of $49.2 million per annum and incur total operating costs in the order of $34.5 million per annum once operational.

This project will continue the transformation of our CBD and create jobs for South Australians.