Heart-stopping moment two speed boats collide

Vision has captured the moment a speedboat crashed over the top of another in a horror accident on a Queensland river.

A prominent Gold Coast business owner was behind the wheel and blamed the collision on a lapse of judgement.

The high-powered boat was travelling at just over 50km/h in the Nerang River and showed no signs of slowing down or changing course when it slammed into the smaller vessel.

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The moment of impact was captured from separate angles on CCTV.

Director of popular gym chain EMF Scott Freeman, who was behind the wheel, pleaded guilty in Southport Magistrates Court today.

He walked away with a $7000 fine and no conviction recorded.

He was also ordered to pay his victim $5000 in compensation.

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"I just want to say sorry to those involved, it was a terrible boating accident," Freeman said.

The court heard he wasn't speeding and returned a negative drug and alcohol test.

The driver of the small hire boat underwent lifesaving surgery and spent close to two weeks in hospital, suffering fractures to her spine and several other body parts.

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