Albury Racing Club faces the biggest financial challenge of its 139-year history following the washout and coronavirus outbreak double whammy striking its Gold Cup meeting.
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Club officials are bracing for an even bigger hit this year compared to 12 months ago when the meeting had to be abandoned.
"It will be a financial disaster for us," ARC president Mark Cronin said.
But the racecourse was eerily empty due to restrictions imposed to prevent the further spread of COVID-19.
The club has missed out on up to $250,000 in gate-takings and is facing a bill of around $200,000 in raceday infrastructure including marquee hire.
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"We are dealing with our sponsors, our members and supporters in relation to refunds and the like," Mr Cronin said.
"But we have been able to conduct races which in turn puts money back into the racing industry.
"Racing NSW to their great credit have under-written the prizemoney and we or may not get some return out of TAB turnover.
"On an any objective view financially it is going to be quite crushing to the club and is going to take a long time to recover from.
"But it is still a better result than not racing."
Murrumbidgee Turf Club will suffer the same fate with this year's Wagga Cup also to be spectator free.
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