The Goolwa Regatta grew into a leading event on the South Australian sporting and social calendar. At its peak it included sailing, power boat racing, paddle steamer races, rowing, swimming and novelty events, and attracted thousands of spectators from other parts of South Australia.

The Goolwa Regatta fell into steady decline in the years following the Second World War, but the Club was revived and renamed the Goolwa Regatta Yacht Club in 1969 in order to cater for the booming interest in sailing in the area. The GRYC is now South Australia’s leading club for trailer-sailers and other shallow-draft yachts.

Most of the vessels on the Club's register are trailer-sailers or other lifting-keel yachts, which are well suited to the relatively shallow waters of the adjacent Lower Murray Lakes and Coorong areas, although traditional wooden riverboats and various sizes of power boats are also well represented.

The port was formerly used by paddle steamers bringing their cargoes of wool and wheat down the Murray for trans-shipping on to seagoing vessels. Goolwa is now a popular tourist and resort town with a resident population of about 4,000. It is located on the Fleurieu Peninsula about 80 kilometres (50 miles) south of Adelaide (population 1 million), the capital of South Australia. Most of the Club's members live in Adelaide and come to Goolwa for weekends and holidays. Water sports are now major contributors to the local economy.

The GRYC’s on-water activities take place on the River Murray, the two large Lower Murray lakes (Lake Alexandrina and Lake Albert) and the area known as the Coorong. The Coorong is a unique lagoon abundant in fish and bird life, and includes breeding areas for pelicans and 200 other species of birds. It is about 145 kilometres (90 miles) long, but only 3 kilometres (2 miles) wide, and is separated from the sea by a band of sand hills. A walk of about 1 kilometre (0.62 miles) through these sand hills leads to the spectacular Ninety Mile Beach. The area is part of the Coorong National Park, which has been recognised as a wetland of international significance.

The area enjoys a Mediterranean type climate, with hot dry summers and mild wet winters. Prevailing winds are southerly to westerly, and fresh afternoon sea breezes are common in the warmer months.

The Club's principal race is the Milang-Goolwa Freshwater Classic. In the 1960s two colourful local identities, the late Bill Ballard and the late Bill Appleby, continually argued over which of them had the faster riverboat. To settle the matter they planned a race between their boats, "Esther" and "Edith", from Goolwa to Milang on 27th December 1966. The two yachts were very evenly matched, and of the first three annual races "Esther" won the first two and "Edith" the third. The biggest winning margin was three and a half minutes, while the closest was twelve seconds. Other boats began to join in the annual race, and the direction of the race was soon reversed to cater for a longer starting line and to give spectators a better view of the finish.

Since 1966 the Milang-Goolwa Freshwater Classic has grown into the largest freshwater yacht race in the Southern Hemisphere. Held late in January each year, it attracts over 400 competing vessels for the 25 nautical mile contest and the ensuing celebrations.

Internet access in the Clubhouse enables members and visitors to obtain the latest weather charts, forecasts, and satellite imagery.

While staffed, the Clubhouse maintains a listening watch on VHF and 27Mhz radios. Its call-sign is VH5GR (G Base). Almost the whole of the Lower Murray and Coorong area is covered by Telstra, Optus and Vodafone digital mobile telephone service.

The Club's marina accommodates 106 boats of up to 12 metres in length. Power and water are connected, and berths may be purchased or leased. The marina provides 180 metres of jetty space for casual mooring. Twelve pens have been reserved for visiting boats.

An excellent boat ramp allows the launching or retrieving of two vessels simultaneously in almost all weathers.