9 May 2012

Dunedin's new stadium posts financial loss

2:52 pm on 9 May 2012

Dunedin's new stadium has lost almost $2 million in its first six months of operation.

The Forsyth Barr stadium opened in August last year just before the Rugby World Cup, replacing the old Carisbrook ground.

Critics have warned the facility was too expensive and would be a drain on the city's finances.

The city council arm which manages the stadium, Dunedin Venues Management, says it lost $1.9 million dollars from July to December last year.

It says the loss was largely due to the stadium having just one major concert.

Dunedin Venues Management says staging the Rugby World Cup cost $400,000 and the challenging economic conditions have left the stadium struggling to attract international events.