I wonder if they mean, when they say the event is costing 'less than $2 million', they are referencing the expected gap between revenue and expenditure for year, versus the total cost for the event.
The venue hire alone works out to be around AUD1.5m, so I imagine the total cost for the event is great than that $2m, unless the Visit Las Vegas and Fiji Airways deals are bigger than expected.
Anyway, we'll all know soon enough what it was, one thing you can rely on in RL is someone leaking the news one way or the other.