sydney gay games AUS$ 2.5m in debt
Saturday, December 07, 2002
It was announced this week that the Sydney Gay Games organising body has been placed into voluntary liquidation with debts of more than AUS$ 2.5 million.
More than 12,000 competitors from more than 80 countries (including teams from Thailand) competed in the week-long competition which was considered to be a great success, and the games is estimated to have injected more than 0 million into the local economy - which is a good thing as local taxpayers will have to bear at least some of the losses incurred by the games organisers as the government is a major creditor!
Coming hot on the heals of the financial problems faced by the Sydney Gay and Lesbian Mardi Gras, this result shows once again that the pink dollar is good for business but not good for event organisers - at least in Sydney. It will be interesting see the financial results from events such as Bangkok Pride this year - the Bangkok venues were certainly not short of people eating, drinking and sleeping their way through Pride week, but was the impact as noticeable on Bangkok Pride Coalition's balance sheet? And will venue sponsorships be even more generous next year?
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