A significant transition is underway in NSW racing, with Peter V’landys preparing to step down as the chief executive of Racing NSW to assume the position of executive chairman for the Australian Rugby League Commission.
V’landys announced this morning that he will relinquish his post as Racing NSW’s CEO upon the expiration of his current contract on November 30.
After 22 years leading Racing NSW, V’landys is widely expected to formalise his acceptance of the offer to become the inaugural executive chairman of the Australian Rugby League Commission.
The NSW racing industry has experienced extraordinary and transformative changes throughout V’landys’ tenure.
Recognised as a formidable negotiator, V’landys was not one to shy away from asserting his views and was prepared to challenge others to achieve the results he sought.
Under his leadership, the NSW racing industry has emerged as a powerhouse in Australian and international racing, delivering substantial increases in prizemoney and improved returns for those involved in the sport.
“Naturally, this is a very sad day for me. I have put my heart and soul into racing for 22 years,” V’landys stated.
“I have been fortunate to work with outstanding, loyal and hardworking Boards of Directors and staff.
“I was just a member of a dedicated team of professionals who were able to generate outstanding outcomes for Racing NSW.
“As a team, we went from a struggling jurisdiction to a world-leading jurisdiction.
“I take this opportunity to thank everyone who has been in our team. I will miss them greatly and I wish the industry every success.”
Graeme Hinton, V’landys’ long-serving deputy, is currently serving as the interim chief executive of Racing NSW and is considered a strong candidate for the permanent role.
V’landys’ catalogue of achievements as Racing NSW chief executive is truly remarkable, solidifying his legacy. He made no apologies for his resolute determination to place the NSW racing industry and its participants first, an approach that could be divisive.
A press release issued by Racing NSW this morning, confirming V’landys’ departure from the sport at the conclusion of the spring carnival, detailed his instrumental role in driving “unprecedented growth in wagering revenues, which has led to unparalleled returns to owners and participants in the NSW Thoroughbred Racing Industry”.
V’landys has been credited with overseeing the procurement of $3.5 billion in new funding, establishing recurring annual revenues of $375 million.
These revenue streams are intended to future-proof the industry, supported by over $250 million set aside in provisions to ensure future distribution levels and club sustainability.
Racing NSW Chair Dr Saranne Cooke stated that V’landys’ contribution to racing is unparalleled.
“Peter V’landys has been, without doubt, the most effective and successful administrator in the history of Australian sport,” Dr Cooke said.
“His contribution cannot simply be measured by the extraordinary growth of racing in NSW during his tenure. Peter has fundamentally changed the trajectory of racing in this country and made NSW one of the world’s leading racing jurisdictions.
“He has fought relentlessly for participants, challenged long-established conventions, created new revenue streams and consistently ensured that racing was protected during two decades of challenges.”
The Racing NSW press release also outlined V’landys’ key accomplishments, including the introduction and successful defence of race fields legislation, which has generated $2 billion in industry revenue since its inception. His campaign for wagering tax parity in NSW has yielded $600 million in revenue, and negotiations for a share of the Point of Consumption Tax have brought in $400 million.
He also oversaw the sale of Trackside to Tabcorp, funding the $150 million Queen Elizabeth II Grandstand at Royal Randwick Racecourse, and established a Randwick capital fund to facilitate the construction of the WINX public stand and new training facilities at Randwick and Rosehill.
Maximising returns for owners and participants was a core objective, with total returns increasing from $110 million in 2004 to $407 million in 2025, an annual increase of $297 million or 270%. Racing NSW’s returns to participants are now $110 million higher per annum than any other state in Australia.
Minimum prizemoney levels have been significantly increased across all sectors, with Saturday Metropolitan prizemoney rising from $45,000 in 2004 to $160,000 in 2026, and Country TAB prizemoney from $5,000 to $27,000, with additional Country prizemoney boosted through regular races and showcase meetings.
The creation of The Everest, now the world’s richest race on turf, has become a major event, significantly enhancing Sydney’s Spring Racing Carnival profile and attracting a younger demographic, with its 10th year projected for a record sell-out.
Further significant race developments include The Golden Eagle, The Big Dance, The Kosciuszko, The Hunter, and The Gong, all designed to promote elite racing in Country and Provincial areas.
The Country Championships Series and Provincial-Midway Championships Series were introduced to provide aspirational races for all NSW racing sectors, featuring qualifying races across NSW with $150,000 prizemoney each and a $1 million Final at Royal Randwick for both series.
Substantial developments for Country racing include The Highway races at each Saturday Metropolitan race meeting, offering $120,000 per race exclusively for Country-trained horses.
The midway race concept was implemented to bolster the competitiveness of small-to-medium Metropolitan and Provincial stables, featuring weekly $100,000 races at Saturday Metropolitan meetings and an annual feature, The Four Pillars, with $500,000 in prizemoney.
The introduction of the Stablehands Bonus payment, distributing 2% of all prizemoney to stable staff, positions NSW as the sole state offering such a reward for the industry’s lowest-paid workers.
Racing NSW has also established the most robust global equine welfare program, being the first racing jurisdiction to deduct a percentage of prizemoney for welfare initiatives and implementing rules prohibiting retired Thoroughbreds from being sent to abattoirs, supported by extensive traceability programs and the $1 million Equimillion event.
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