Bundaberg Race Club has been pulled off the scrap heap with the precinct given another chance at building a successful racing precinct.

They had their license reinstated only after Racing Queensland was satisfied with a newly developed business model showing how they would avoid the mistakes of the past.

After drifting into a horrible financial position Racing Queensland issued a show cause notice in March demanding they immediately prove the club was a viably ongoing prospect.

While they have lifted the suspension the Bundaberg Race Club will need to submit their financial documents on a monthly basis where they will be overlooked by the finance department of Racing Queensland.

Chairman of RQL Bob Bentley said there was substantial support for the continuation of the club coming from the community which included financial investment and a new committee.

The first meeting under the new strategy will be held on July 9th with the feature event Bundaberg Gold Cup and Lightning Handicap supporting hopes of a big crowd.