RACING Queensland has published its 2025-26 Annual Report after it was published in Parliament this week.
Highlights include:
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Recording a profit of $8.2 million;
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Total revenue (excluding grants) increasing to $431.9 million – a 6.4% increase from FY25, resulting in RQ Earnings Before Interest and Depreciation improving by $14.5 million compared to FY25; and
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Payments to participants remaining comparable to FY25, with total prizemoney distributed increasing by almost 2% to $260.1 million.
Wagering turnover improved from $5.6 billion to $5.9 billion in FY26 – led by an 8.1% increase for the thoroughbred code.
RQ Chair Matt McGrath said the latest data highlighted the importance of racing from both an economic and social perspective, especially in the regions where more than half of the industry’s economic contribution is realised.
“It speaks to the unbelievable work from those at the coalface of the sport, and their passion and commitment that directly contributes to the growth of racing across each of the three codes,” Mr McGrath said.
“Whilst challenges will always emerge, the opportunities are immense across all three codes with racing continuing to maintain a vital importance to the state of Queensland.
“The last five years has seen RQ’s revenue increase from $354.1 million to $433.6 million, whilst increasing payments to participants primarily through prizemoney and annual club payments from $229.3 million to $364.7 million over the same period.
“Importantly, we continue to maintain a strong focus on investment in club infrastructure across country, provincial and metropolitan regions across the state through infrastructure funding while maintaining a sustainable financial position.
“The past 5 years has seen almost $260 million spent on racetracks, spectator facilities, and stabling and kennelling complexes, with a pipeline of exciting projects on the horizon as outlined in The Next Lap.”
As a $2.5 billion economic heavyweight, 14,000 Queenslanders make a full-time living in the racing industry, with close to 50,000 people actively involved across the three codes.
EDITOR’S NOTE: Regardless of this result – which we would like to see forensically examined by an independent financial expert – LGHR and many others do not believe that Matt McGrath or Interim CEO Lachlan Murray are the right people for their jobs. McGrath because he is Sydney-based and Murray because of the star-studded field of more experienced racing identities applying for the full-time CEO role. And don’t interpret this as us wanting Murray out of a job. There are plenty more important roles he can fill at RQ.
