Bankstown Sports Group plans amalgamation with Bankstown Golf Club
A beloved southwest Sydney golf course is set for a new club house, potential brewery and a dining precinct if a proposed amalgamation is approved.
The Express
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Bankstown Golf Club is set to become part of the Bankstown Sports Group, after members from both clubs voted to amalgamate the two businesses.
If the amalgamation is approved by regulators, the golf club would be the seventh venur or sports facility owned by the group, which runs Bankstown Sports, Bankstown Bowls, Birrong Sports, Baulkham Hills Sports, Auburn Tennis, and The Acres at Greenacre.
Speaking to The Express, Bankstown Sports Group (Bankstown Sports) CEO Michael Clancy said the plan was to design and build a new club house while adding a food and beverage precinct and potentially a brewery on the site.
The proposal, while not finalised, would involve Bankstown Sports taking on the golf club’s assets and liabilities.
“There are no significant liabilities, which is why we’ve given a 20 year surety to maintain the club, golf course, and the facilities in the golf house,” Mr Clancy said.
The golf course would still be run by the current management team, with Bankstown Sports taking on the running of the club house and on site entertainment.
“Our size of scale and buying power all go to helping the club,” Mr Clancy said.
Bankstown Sports 135,000 members would be given access to the golf club facilities — aside from the course — while the 850 members of Bankstown Golf Club secure membership to the sports group.
Greg Edwards is the general manager at Bankstown Golf Club, and said the amalgamation was about the future of the club, which dates back to 1928.
“We are looking at the long term, future plans of the golf club, not just tomorrow,” Mr Edwards said.
“We’re looking at spending money on irrigation, drainage, and improvement of the course. That’s always been the dream of the club.”
The golf club has approval to run 13 gaming machines, though they are currently being leased out, Mr Clancy said.
“When that lease runs out, we’ll get them back and put them on the floor, but it’s not a large part of their business down there.”
In the 2020/21 financial year, Bankstown Sports turned over $115 million in revenue, $87 million of which came from gaming, while it paid $24 million in state and federal taxes.
The club’s latest annual report reveals it made a $22 million in profit in the last financial year, while it holds $332 million in assets.
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