Melbourne Racing Club has reported record revenue of $281.4 million for the 2025/26 financial year, although rising debt and significant financing costs contributed to another annual loss.
The club recorded a net deficit of $10.6 million, an improvement of $4.1 million on the $14.7 million loss posted in the previous financial year.
Gaming operations played a significant role in driving the record revenue result, while underlying EBITDA reached $31.5 million and operating cash flow remained positive at $20.3 million.
However, the cost of servicing the club’s substantial borrowings remained a major expense, with $10.9 million spent on debt servicing during the year.
Bank debt increased by another $19.5 million to $197.7 million by the end of the financial year.
The club is also awaiting progress on the proposed sale of a parcel of land on the western side of Caulfield, with the transaction potentially playing an important role in its broader financial position.
