News
Annual Report 2023-2024
Date: 24-Oct-2024
The Ipswich Turf Club’s 2023-24 Annual Report was presented to members at the Annual General Meeting held at the club on Thursday October 24.
The Club conducted 45 race meetings in 2023-24, which was up on the 42 conducted the previous year. Almost $13million was distributed by Racing Queensland for races conducted on the Ipswich track this year, with almost $340million wagered on our races during the year.
The reported earnings before interest, depreciation and amortisation (EBIDA) profit for the year was $220,957.
Off the track, the Club’s function venues, headed by the Ipswich Events and Entertainment Centre, hosted more than 150 events during the year, enhancing its reputation as one of the best destinations in the district.
Chairman Wayne Patch noted the establishment of plans for a stable complex on the recently acquired Mill Street properties was well underway, while the Club also received DA approval for lights, if and when Racing Queensland chooses to approve their installation, which would allow twilight and night racing to be conducted at the venue.
Patch also spoke to the proposed Indoor Sports Complex development on the vacant Brisbane Road land.
“A recent feasibility study has identified a critical need in the community for additional indoor sporting facilities,” he said.
Patch also noted the Ipswich Cup-eve fire, which caused a shuffle of some function venues and other logistical issues at this year’s showpiece.
“The building and facility repairs have now been completed … and while not much change is obvious to the public eye, significant electrical and reticulation upgrades have taken place, which will be to the long-term benefit of the Club.”
To view the Annual Report please click here.