Since stepping into the role of CEO in March 2025, I’ve had the privilege of connecting with many passionate and dedicated people across the New Zealand racing industry. The energy, commitment, and shared ambition I’ve encountered have been truly inspiring.
As the 2024-25 season comes to end, I would like to take this time to update you on the progress and key initiatives that drive us toward a new season of bold transformation.
Over these first few months, we’ve made strong progress in aligning our goals and laying the groundwork for meaningful change. I’m pleased to share that a new strategic plan will be released in the new season, focused on rapid and impactful transformation across all facets of the industry.
The announcement of Project Stamina earlier this morning is another important step toward collaboration, innovation, and a clear vision for growth. This joint initiative with HRNZ, supported by TAB NZ, marks a strategic shift from reactive maintenance to long-term, future-focused investment across both Thoroughbred and Harness racing codes.
I look forward to working with you all to bring it to life and thank those who have contributed to the development of an aspirational, yet achievable, plan.
Finally, I would like to acknowledge the tragic loss of young and talented rider, Ngakau Hailey, this week and express my sincere condolences to his family, friends and those who are affected by his passing. This is an incredibly sad time for the racing community and OnTrack has been on course to support the community. Should you need support during this difficult time, please reach out to the OnTrack team for help.
Revised Stakes Strategy for the 2025-26 Summer Carnival
I want to update you on an important funding decision for the season ahead.
After a detailed review of prizemoney levels nationwide, feedback from stakeholders, and a reassessment of investment priorities across both NZTR and the wider industry, we have made the decision to pause the scheduled Year 2 uplift in Summer Carnival stakes and bonus funding for the 2025-26 season.
With eight additional racedays planned, we are focused on balancing immediate returns to participants with longer-term investments that will support sustainable growth and better outcomes for the industry as a whole.
Total stakes and bonuses for the 2025-26 season will still increase by $2.3 million on the 2024-25 season, bringing the overall stakes and bonus pool to $105.5 million.
Last season, we delivered a $10 million uplift in stakes and bonuses, and I’m pleased to confirm that this has been maintained heading into this season. Combined with the additional $2.3 million budgeted for 2025-26, stakes and bonuses are now $12.3 million higher than they were just two seasons ago.
While stakes remain a cornerstone of industry funding, we must also invest in the infrastructure and innovation needed to future-proof racing as a leading national sport and entertainment offering.
I know how important stakes are to our participants, and we remain firmly committed to delivering meaningful and sustainable growth. By investing now in the foundations of the sport, we’re building a platform for stronger, longer-term returns in the years to come.
This is a deliberate decision by the NZTR Board and Management to prioritise long-term investment where it will deliver the most tangible benefit to the future of New Zealand racing.
Racing Codes Unite to Shape the Future of NZ Racing Infrastructure
Yesterday, we officially launched Project Stamina, a landmark collaboration between NZTR, Harness Racing NZ, and TAB NZ to shape the future of New Zealand’s racing infrastructure.
This initiative marks a strategic shift from reactive maintenance to long-term, future-focused investment across both Thoroughbred and Harness racing codes. We’ve reached a critical point that demands bold decisions, and Project Stamina is our commitment to building a sustainable, unified future for our industry.
I’m genuinely excited about the opportunity this presents, not just for Thoroughbred racing, but for the entire racing community. Working alongside HRNZ and TAB NZ, we have a chance to create infrastructure that reflects the scale and potential of our sport.
This is our moment to build something enduring with next steps engaging independent consultants to help develop the Master Plan. Their work will be guided by industry leaders and advisors, with a target completion date before December 2025.
NZTR Statement of Intent 2026-28 Released for Consultation
NZTR released its Statement of Intent and Business Plan for consultation earlier this week. This statutory document summarises the four focus areas that outline our high-level ambitions for NZTR for 2025-26 and beyond, and is essential to measuring NZTR's key priorities and performance.
NZTR's Key Areas of focus are outlined as follows:
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A Global Reputation for Excellence
Elevating New Zealand racing to world-class standards through performance, innovation, and international engagement. -
A Sport that Captivates the Nation
Growing the fanbase and deepening public connection to racing through storytelling, accessibility, and entertainment. -
One Industry, Winning Together
Strengthening collaboration across Clubs, participants, and stakeholders to build a unified and high-performing industry. -
A Sustainable Industry
Ensuring long-term viability through responsible investment, environmental stewardship, and financial resilience.
In other news:
Betting Law Reforms: A Game-Changer for Racing & Sport
Parliament has passed landmark changes to New Zealand’s betting laws, delivering a major boost to racing and sporting codes. These reforms grant TAB NZ exclusive rights to online betting, ensuring offshore operators no longer siphon revenue from our local industry.
An Open Letter to the Racing Community: Adherence to Racing Codes of Conduct
NZTR, alongside the RIB and HRNZ are reinforcing the importance of upholding the industry's Code of Conduct, which sets clear expectations for respectful and professional behaviour across all racing environments. This reminder serves to ensure all participants remain committed to creating a safe, inclusive, and supportive industry culture, both on and off the track.
Yours in racing,
Matt Ballesty
NZTR CEO
