BRC loses money on its tote

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September 26, 2017 - 03:24 PM

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The changing face of Australian gambling will be shown when the Brisbane Racing Club reveals a loss on operating its on-course totalisator in its annual report.

The BRC is expected to declare an $806,000 overall loss on the 2016-17 season at its annual general meeting on October 18 despite a good performance in non-racing activities .

The club had a $1.7 million profit the previous season.

Despite having 75 meetings in the 2016-17 season compared with 54 the previous year, bookmakers wagering dropped from about $19 million to around $11 million.

Wagering on the on-course totalisator was down slightly on the previous year but there was a $100,000 turn around in profit.

The report will show revenue from the totalisator was $1,454,285 but the costs of operating it was $1,485,536 for a loss of $31,251.

The BRC had a profit on operating the tote of $73,649 in the 2015-16 season.

The club is expecting its non-racing activities to increase income in the coming year including the Eagle Farm markets, a shopping centre, Gallopers Sports Club and an on-site child minding centre.

The BRC has also recently taken over management of the Souths Acacia Ridge rugby league club which will now be known as the Souths Sports Club.

AAP has sought comment from the BRC.