Southwell Racecourse has been forced to close until February during its busiest season as a result of heavy flooding.
The floods hit the racecourse and rose as high as nine inches – leaving its surrounding buildings and part of the track under water.
To compensate its December and January flat meetings have been moved to Wolverhampton and Lingfield.
Racecourse manager of Southwell Racecourse Nathan Corden said the flooding could not have come at a more difficult time.
He added: ‘It’s a very disappointing end to the year because we were so ahead of our targets for a year and this has all been slashed.
“Unfortunately we can’t just change tactics and put extra races on in the New Year because we first need to apply through the British Horseracing Authority – now we have to think ahead for when the next flooding will happen.”
Eight of its flat meetings in December and 11 of its fixtures in January have been moved to Wolverhampton and Lingfield.
This is not the first time the racecourse has been affected by severe flooding after being closed in 2007 for five months.
During this period the flooding between June to December 2007 was estimated to have cost as much as £6 million.
Catering Manager Helen Forbes said the effects of the flooding had been terrible.
“We are devastated here at Southwell but a fall clean up is underway and we should be open at the beginning of February.”