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Adelaide Convention Centre Corporation

Functional responsibility

The Adelaide Convention Centre Corporation (the Corporation), a subsidiary to the Minister for Tourism, was established pursuant to Regulations under the Public Corporations Act 1993.

The main function of the Corporation is to manage the Adelaide Convention Centre.


Financial statistics
Profit from trading activities: $7 million
   
Loss from property management activities: $6 million
   
Dividend and income tax equivalent payment to State Government: $1.5 million
   
Capital work in progress: $262 million
   
Borrowings: $260 million
   
Net assets: $158 million
   
Number of FTEs: 337
(including 207 casuals)

Significant events and transactions
  • The Adelaide Convention Centre is currently being redeveloped. In 2015, Cabinet approved a budget increase for the redevelopment bringing the total budget to $396.8 million of which $382.3 million will be funded from borrowings and $14.5 million from the Corporation’s Future Asset Replacement account.
  • Changes to legislation resulted in the Corporation being merged with the Adelaide Entertainments Corporation on 1 August 2015 to form the Adelaide Venue Management Corporation. The Adelaide Convention Centre Corporation will prepare a final financial report for the period ending 31 July 2015.

Financial statement opinion
Unmodified