Prince Charles will be at the games, in the Scottish Highlands, instead.
Her Majesty has previously missed the gathering only a handful of times in her 70-year reign, including when it has been cancelled entirely during the pandemic.
The Queen is expected to spend the weekend at home in Balmoral, ahead of visits from Boris Johnson and the new Prime Minister on Tuesday.
Voting will close in the Conservative Party leadership contest at 5pm on Friday, before either Liz Truss or Rishi Sunak is announced as the new Prime Minister next week.
The Queen
Kirsty O'Connor
Tory MP Mark Harper said: “Whoever wins this and gets elected as leader on Monday is going to have to behave in a way that enables the party to come back together.
“That means doing what both candidates have said, which is appointing a cabinet from across the party, all of the talented people in the Conservative Party.”
Though voting closes on Friday, the result will not be announced until Monday.
Mr Johnson and his successor will then go to Balmoral rather than Buckingham Palace, in a break from tradition.
The Queen will receive Mr Johnson on Tuesday at her Aberdeenshire home, where he will formally tender his resignation.
This will be followed by an audience with the new Tory leader, where she or he will be invited to form a government.