ALBURY Racing Club has overcome the potentially disastrous abandonment of its Gold Cup meeting in March to post a healthy profit.
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The club posted an operating profit of $41,265 for the 2018-19 season.
The figure is approximately one third less than the $60,760 profit the previous year.
Club chief Steve Hetherton said the result highlighted the benefit of the club capitalising on its key operations.
"Given the unforeseen circumstances of losing our Gold Cup meeting and to still record a profit is a pleasing result for everybody involved," Hetherton said.
"There were a few significant factors which contributed to the club still being able to make a profit.
"We have performed well across the year in some key areas including our trained starters which is the number of horses trained on the track that race at Albury as well as other tracks.
"That number reflects the growth of some of the stables based at Albury.
"Hosting the Country Championships was also a fantastic result for the club.
"Racing NSW scheduling an additional meeting after the cup was abandoned also helped recoup some of the losses.
"The result just reinforces that apart from the cup we are performing well."
IN OTHER NEWS
Hetherton said the club was also fortunate to have the support from a large number of loyal sponsors and members.
"While the cup remains by far and away our biggest single source of revenue, our sponsors and members are also a major part of our success as a club," he said.
"The cup helps to attract sponsors but with other key race days now in the fixture the opportunities for sponsors and members has improved.
"The club is looking to expand the on course training facilities for current and future local trainers and owners.
"Moving forward we will also continue to identify and attract major events to develop new non-wagering revenue streams.
"Over the weekend was the perfect example with the club hosting the Albury Night Markets with around 20,000 people through the gates over the two nights.
"First and foremost the club is a racing and training facility but events similar to the weekend are not only beneficial to the community but our business as well."
The Albury grass track remains closed as it repairs after drainage works undertaken by Racing NSW.
It is scheduled to re-open early next month with the club set to host two popular festive meetings on December 7 and 14.
The club will also race on Boxing Day.
