An extraordinary members meeting has been called at the North Albury Sports Club to discuss the future of the venue.
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The club has struggled with financial issues in recent years, and nearly folded in 2014 as debts rose to $850,000.
President Dean Luhrs said he was confident the club would continue in the long term, but said changes would be flagged in a bid to reduce debt.
He said the club was keen to offload poker machines in a bid to pay down debts of about $200,000.
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Government statistics show the club has 27 machines.
"We're looking to get a fresh start," Mr Luhrs said.
"We want to change from a gambling venue to a community venue, that's probably the main thing.
"Do the members want it as a gambling club, or non gambling club?
"That's probably the biggest thing that will be talked about at the meeting."
The venue had introduced live music on Friday nights late last year, which has been since stopped.
Mr Luhrs said costs to run the venue continued to rise, particularly insurance.
Despite having solar panels, the club is billed up to $5000 a month for electricity.
He said the club had debts of about $90,000 to a bank, about $60,000 to creditors, and about $50,000 for staff entitlements.
"It will always keep going as a sporting club," Mr Luhrs said of the venue's long term prospects.
"There has been no interest in amalgamating with other clubs.
"This is option number two."
The meeting will be held on February 15 at 10am.
