The Gold Coast Turf Club has cancelled a phantom meeting with facilities drenched by 275mm of rain overnight.

Officials called Saturday's races off and any hopes of holding a phantom meeting were abandoned because of water inside parts of the infrastructure.

The Gold Coast Turf Club was counting its blessings the deluge did not come a week earlier when the rich Magic Millions day was held.

GCTC boss Steve Lines said there was no choice but to abandon the meeting.

"You have never seen rain like it. The car parks, the kitchens are all flooded," Lines said.

"The highway to Brisbane was also flooded and no one was getting through.

"The only good thing is the rain didn't come last Saturday when the Magic Millions was on."

Brisbane also had rain with Eagle Farm receiving 65mm overnight and rated a soft 5.

Racing Queensland track supervisor Mick Goodie said large parts of the track were in the good range.

"It really is a good drying track," he said.