At an extraordinary general meeting later this month, members are also going to be asked for their thoughts on whether the club could be amalgamated with another Wagga organisation or if its function room should be leased out.

Last month, the club's restaurant catering services were shut down in a bid to save money.

In a letter to members, inviting them to the extraordinary meeting on March 24, the club's directors said at least 75 per cent of members had to be in favour of selling off poker machine entitlements.

Commodore Mick Henderson said the plan was to get rid of six of the 10 machines, all of which need upgrading, currently at the club.

The club's revenue from the "pokies" for 2017-2018 was $22,987, with another "massive drop" anticipated in the current financial year.

"The return we get on them is virtually zero," Mr Henderson said.

Additionally, all of the club's machines need to have the current note accepters upgraded, at a cost of $750 per machine.

Mr Henderson said directors believed selling off some of the poker machine entitlements would allow the club to clear its outstanding debts to creditors, leaving just a single loan - for building renovations - still to be repaid.

The same meeting will discuss an amalgamation or function centre lease, which would leave the sandbar and grassed area for members.

"These are not decisions we are making lightly," Mr Henderson said.

"We are putting it out there and getting feedback from members."

Last month, after the decision was made to close the club's catering facilities, Mr Henderson said the closure of the lake due to the blue-green algae and faecal bacteria problems forced them to look at cost savings.

Closing the catering facilities saved the club several thousand dollars a week.

“This was one way we could do it,” Mr Henderson said.

“It’s been on the table since before Christmas and we’ve had a series of meetings about it.

“We felt it was the best decision for the club and its members."

He cited the inconsistent and fluctuating trade as a result of the decreased activities at the lake.

“The use of the lake dictates our membership,” he said.

The extraordinary meeting will be held at the club at 2pm on March 24.