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The Gold Coast Turf Club says it will cooperate with the Queensland Government's $3 million inquiry into the State's racing industry.

The inquiry, which began in Brisbane yesterday, is investigating Racing Queensland's contract management and financial accountability between 2007 and 2012.

It will examine deals struck between Queensland's former Labor Government prior to last year's state election and claims the racing body awarded contracts to Contour Consulting Engineers without going to tender.

According to an ABC report, the inquiry has already received 14,000 files and 45 people have been told to deliver sworn statements by the end of next week.

90 others have been served with notice to produce documents.

Gold Coast Turf Club Chief Executive Grant Sheather says the inquiry has requested documents and information from his organisation.

Sheather told the ABC "I can confirm the club received correspondence from the Commission of Inquiry and the club will be cooperating fully with the Queensland Racing Commission.

"We believe the inquiry is being conducted in the best interest of racing in Queensland.

"Racing is of high economic importance in Queensland and we support the State Government's actions that will ultimately enhance the industry."

At yesterday's first 'open session' in Brisbane, the inquiry was told separating fact from rumour will be a significant task.

James Bell QC said it would not be easy to establish the facts, stating "the racing industry is particularly rife with rumour and gossip.

"Matters presented as fact often turn out on proper investigation to be nothing more than speculation or repetition of rumour."

The findings are due at the end of September.

24th January 2013 - 'NO EVIDENCE' OF SYSTEMIC FIXING IN VICTORIA RACING

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