Club Glass House will be sold to the Caboolture Sports Club to save the venue
By Kirra Livingstone and Mitch Gaynor
CLUB Glass House is set to be sold to Caboolture Sports Club following revelations the 50-year-old community institution was in substantial debt and faced imminent insolvency.
A general meeting, held on Monday, May 12, disclosed the dire financial status of the club, including a $210,822 loss in the nine months to March 31, 2025.
The new Club Glass House board, appointed in December 2024, announced that the club’s current net assets amounted to just $265,084 with debts including poker machine GST of $138,000.
The new board said it had sought an independent auditor’s opinion soon after realising the extent of the club’s financial dilemma.
That audit, by MGI South Queensland, found the club would not be able to trade out of its debt before June 30, the meeting heard.
“The review delivered concerning news: our substantial debts, including tax payments, must be paid immediately,” the board had told members prior to the general meeting.
“Current trade and cost practices will not enable to fight our way back into a viable financial position.
If we do not secure financial assistance, the club cannot legally continue to trade into the future.”
Board members said they had exhausted all options, including discussions with other larger clubs, loans and grants before negotiating with CSC to amalgamate.
Desperate to avoid certain closure, members voted 232 to 29 to sell the club to Caboolture.
CSC promised to wipe debts and invest $1.5 million into upgrades.
CSC chief executive officer, Craig Thomas, a Glass House Mountains local of 10 years, said he wanted to see The Glassie thrive.
“We are really excited to become part of the community, we are a community club organisation so this really fits our ethos,” Mr Thomas said at the general meeting.
“We’re really excited to help the club grow and get back on track.
My family and friends come here all the time, it’s a big part of the community and we want to make sure it continues.”
He said the $1.5m would be invested into renovations including paving the car park, adding new lighting, and refurbishing the interior.
Club Glass House president, Gary Gray, said staff would be unaffected by the takeover.
Mr Gray told GC&M News after the vote that although he was unhappy it had come to this, it was the best option to secure the club’s future.
“This is just the first step moving forward, it’s very hard to go,” he said.
“With the alternatives, this is looking like the better option for the longevity of the club and ultimately, we want this place to still be here after we’re all gone, it should be here for our kids and grandkids.
Looking at what CSC has to offer us – financial stability and investing into the club; it’s looking positive, it’s really good but we have a long way to go.”
During question time, members expressed frustration about the club’s financial situation.
Former general manager of 20 years of Club Glass House, Sharon Bochow, said she believed the club had been heading in this direction for some time after she left.
“I haven’t been coming to the club for 18 months because … I was not in agreement with the way things were going,” Ms Bochow said.
“I had a terrible feeling this was going to be the outcome and I did point that opinion out to a lot of people.”
Ms Bochow said she did not blame the current board for the financial issues.
“I will put my hand up and say I am ashamed that I walked away, but … you can only take so much,” she said.
“The board sitting at that table now, I want to say congratulations because you had the balls to stand up … which someone needed to.”
The financial reality was in stark contrast to the club’s 2024 annual report, which gave a glowing outlook.
In that report, former general manager, Geoff Martin – who left the club earlier this year – stated: “The Club is now at bursting point and we will continue on our path of expansion so we can provide the Glassie experience to more patrons”.
He pointed to highlights across 2024 including a 15 per cent increase in eligible gaming machines; a 13 per cent increase in bar sales; a 41 per cent increase in dining sales; a 21 per cent increase in gaming revenue; and 20 per cent membership growth.
However the same annual report conceded a loss of $31,000 in earnings, and recognition that the club had “plateaued in growth”.
Members expressed disbelief that the club was able to fall so deeply in debt despite strong membership and a seemingly busy club.
While this paper is not suggesting any wrongdoing by past management, questions were specifically raised about the lack of budgeting at the club.
The meeting heard that issues including wages that were “double the national average of clubs” and a generous “pay by points” of 10 cents to every dollar, against the industry average of one cent per dollar, were contributing factors.
The meeting heard that if the deal with CSC was not made, the club would have stopped trading within months, and board members would have been personally liable for the debt, risking their homes.
Although the majority voted in favour, some members remained sceptical.
One member, who wished to remain anonymous, claimed questions were deflected, and some were not given the chance to speak.
GC&M News made multiple attempts to contact Mr Martin.
kirra@gcnews.com.au
