TURF CLUB OUT OF THE BLOCKS WITH $35.4M

TURF CLUB OUT OF THE BLOCKS WITH $35.4M

GOLD Coast Turf Club (GCTC) and Racing Queensland Limited (RQL) have buried the hatchet and finally committed to a $35.4 million to redevelop the Bundall Racecourse on the eve of the BMW Magic Millions carnival.

GCTC chairman Brett Cook commending State Government on its commitment.

“The Queensland Government’s funding grant will mean Bundall’s racing, members and training facilities will receive a significant upgrade to take the racing facility to a metropolitan standard,” he says.

The project is expected to dilute past bad blood between the Turf Club and RQL chairman Bob Bentley over what the club claimed to be land grabbing.

“This has been a long process and a lot of compromise between both parties has made this possible,” says Bentley.

“Both RQL and GCTC want the best outcomes for racing on the Coast and I am delighted we could reach this agreement.”

Members will be the early beneficiaries with works to start on facilities as soon as August. The construction will be followed by the redevelopment of the course proper in July 2013, which will be completely resurfaced and a new drainage system installed to ensure racing on the Gold Coast can continue year-round in all weather.

This $35.4 million dollar upgrade forms part of the record $110 million Racing Industry Capital Development Scheme committed by State Government to the Queensland racing industry.
Racing Minister Tim Mulherin announced the plans to the Gold Coast racing fraternity of the deal while officially opening the 2012 Magic Millions last night.

“This project is staged to ensure no disruption to day-to-day training and future major events such as the Prime Minister's Cup and future Magic Millions carnivals,” he says.

Australia’s favourite summer racing carnival and the richest sales incentive race series the BMW Magic Millions Race Day opens on Saturday.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Crypto staking: a new way to earn passive income
Partner Content
You may be familiar with traditional ways of earning passive income such as trading sto...
Etoro
Advertisement

Related Stories

Board exodus gathers pace at The Star after O’Neill resigns as chairman

Board exodus gathers pace at The Star after O’Neill resigns as chairman

The Star Entertainment Group (ASX: SGR) is now on the hunt for a ne...

Woolworths adds controlling stake in MyDeal to cart for $218 million

Woolworths adds controlling stake in MyDeal to cart for $218 million

Woolworths (ASX: WOW) is looking to enhance its online marketplace ...

SNL’s Pete Davidson to star in QLD feature film ‘Wizards!’

SNL’s Pete Davidson to star in QLD feature film ‘Wizards!’

The Australian screen sector has bagged two major wins today, with ...

Scrap metal recycler Sims picks up Brisbane port site for $88 million

Scrap metal recycler Sims picks up Brisbane port site for $88 million

In order to acquire one of the few remaining Brisbane sites with de...