An era is concluding in NSW racing with Peter V’landys set to depart the sport to take up the mantle of executive chairman for the Australian Rugby League Commission.
V’landys announced this morning that he will be vacating his role as Racing NSW chief executive when his contract concludes on November 30.
Having served as Racing NSW’s CEO for 22 years, V’landys is widely expected to confirm his acceptance of the offer to become the ARC Commission’s inaugural executive chairman.
The NSW racing industry has undergone a period of extraordinary and transformative change during V’landys’ leadership.
Renowned for his tenacity as a negotiator, V’landys rarely backed down and was unafraid to challenge others to secure the outcomes he desired.
Under his direction, the NSW racing industry has become a dominant force in Australian and world racing, marked by significant prizemoney increases and improved returns for industry participants.
“Naturally, this is a very sad day for me. I have put my heart and soul into racing for 22 years,” V’landys said.
“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-standing deputy, is presently serving as the interim Racing NSW chief executive and is considered a leading candidate for the permanent position.
V’landys’ list of achievements as Racing NSW chief executive is quite extraordinary, and his legacy is secure. He made no apologies for his determination to put the NSW racing industry and its participants first, an approach which could be divisive.
In a Racing NSW press release issued this morning confirming V’landys will exit the sport at the end of the spring carnival, it detailed how he has been the driving force of “unprecedented growth in wagering revenues, which has led to unparalleled returns to owners and participants in the NSW Thoroughbred Racing Industry”.
V’landys has overseen a total of $3.5 billion in new funding procured, with new recurring annual revenues of $375 million.
These revenue streams will future-proof the industry and are supported by over $250 million being put aside in provisions to ensure future distribution levels and club sustainability.
Racing NSW Chair Dr Saranne Cooke stated that V’landys’ contribution to racing was without parallel.
“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 detailed V’landys’ major achievements, including the introduction and successful defence of race fields legislation, establishing the principle that wagering operators must pay for the use of racing’s product, generating $2 billion in revenue since inception. His successful campaign for wagering tax parity in NSW has generated $600 million in revenue, and negotiations for a share of the Point of Consumption Tax have brought in $400 million.
He also negotiated the sale of Trackside, the simulated racing product, to Tabcorp to fund the $150 million Queen Elizabeth II Grandstand at Royal Randwick Racecourse. This initiative established a Randwick capital fund through new revenues from TAB, enabling the construction of the WINX public stand and new training tracks at Randwick and Rosehill.
Maximising returns to owners and participants was a key focus, with total returns increasing from $110 million in 2004 to $407 million in 2025, an annual increase of $297 million or 270%. Under his leadership, Racing NSW’s returns to participants are $110 million per annum higher than any other state in Australia.
Minimum prizemoney levels across all sectors have been increased, 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, plus significant additional Country prizemoney through regular boosted races and showcase meetings.
The creation of The Everest, now the world’s richest race on turf, has become a globally recognised event, significantly boosting Sydney’s Spring Racing Carnival profile and attracting a younger demographic, with its 10th year projected for a record sell-out.
Further major new race developments include The Golden Eagle, The Big Dance, The Kosciuszko, The Hunter, and The Gong, all created to promote elite racing in Country and Provincial sectors.
The Country Championships Series and Provincial-Midway Championships Series were established to provide aspirational races for all sectors of NSW racing, including qualifying races across NSW carrying prizemoney of $150,000 each and a Final at Royal Randwick with prizemoney of $1 million each for both series.
Major developments for Country racing include establishing The Highway races at each Saturday Metropolitan race meeting with prizemoney of $120,000 per race, exclusively for Country-trained horses.
The creation of the midway race concept was implemented to build the competitiveness of small-to-medium Metropolitan and Provincial stables, featuring weekly $100,000 races at each Saturday Metropolitan meeting and an annual feature, The Four Pillars, with prizemoney of $500,000.
The creation of the Stablehands Bonus payment, with 2% of all prizemoney paid being distributed to stable staff, makes NSW the only state to provide such a reward for the industry’s lowest-paid workers.
Racing NSW has established the most robust and extensive equine welfare program of any racing jurisdiction globally, including being the first to deduct a percentage of prizemoney to fund equine welfare initiatives and prohibiting retired Thoroughbreds from being sent to abattoirs, supported by traceability programs and the $1 million Equimillion event.
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