Brisbane Racing Club Re-Elects Leadership Board and Delivers $89.7 Million Revenue for FY26

The Brisbane Racing Club held its Annual General Meeting (AGM) at Eagle Farm Racecourse, confirming the re-election of key board leadership following a contested Director election.

Brisbane Racing Club chairman Richard Morrison, vice chairman Terry Svenson, and director Jennifer Creaton, were all returned to serve another term on the BRC Board, prevailing over fellow candidates Michael Rapkins and Cheryl Ahchee. Addressing over 80 attending members and guests, Morrison expressed gratitude for the membership’s continued vote of confidence while acknowledging the nominees for their dedication to the venue’s governance.

The club presented strong financial metrics for the 2025/26 financial year, reporting a total Group revenue of $89.7 million and a net profit of $4.7 million. Underlying EBITDA expanded beyond budget expectations and surpassed previous year figures, driven by operational turnarounds and yield across its core racing, commercial hospitality, and licensed venue divisions.

Additionally, the Brisbane Racing Club Foundation reached a commercial milestone by passing $1 million in total distributions toward regional charitable and community initiatives.

Commenting on the strategic balance between maintaining financial discipline and funding major precinct infrastructure developments, Brisbane Racing Club chairman, Richard Morrison, said: “I would like to congratulate Terry and Jen on their re-election and thank our Members for the confidence they have shown in the Board.”

“I also want to sincerely acknowledge Michael Rapkins and Cheryl Ahchee for putting themselves forward.

“Both have demonstrated genuine passion for the Brisbane Racing Club and a strong commitment to its future.

“We are fortunate to have Members who care deeply about the Club and are prepared to contribute their time and expertise to its ongoing success.

“The Brisbane Racing Club Foundation reaching the $1 million milestone is something our entire Club can be incredibly proud of.

“It reflects the generosity of our Members, partners and supporters, and the important role our Club plays in supporting the wider community,” Morrison said.

Turning to medium-term capital development, Morrison outlined the progress surrounding the ongoing transformation of the spectator precinct at Eagle Farm Racecourse, which represents one of the largest infrastructure redevelopments in the organisation’s history.

“We have achieved a great deal over the past 12 months, both on and off the track, while continuing to lay the foundations for the next chapter of the Brisbane Racing Club.”

“The redevelopment of Eagle Farm is an important part of that future.

“Our priority is to ensure we deliver facilities that our Members and the wider racing community can be proud of, while maintaining the long-term financial strength of the Club.

“There is still considerable work ahead, but we are confident in the direction we are taking and excited about the opportunities in front of us,” Morrison said. 

The Brisbane Racing Club membership unanimously voted to adopt the 2025/26 financial statements and Annual Report.

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