Racing Reform Bill and RITA

Racing Reform Bill passes third reading

The Bill, which comes into force on 1 July, opens the starting gate for the transition of the New Zealand Racing Industry into a financially sustainable future.

The Bill reconstitutes the New Zealand Racing Board as the Racing Industry Transition Agency, (RITA). 

RITA will have a new membership and a legislative mandate to manage the changes needed to revitalise the industry as well as to carry out business-as-usual functions.
The Bill also addresses the industry’s need for additional revenue. The totalisator duty currently paid to the Crown will be phased out, with the revenue returned to the industry and a portion retained for harm minimisation.

The Bill also introduces two new charges on overseas betting operators to help ensure they contribute to the New Zealand racing and sports codes from which they benefit.
The Bill permits RITA to offer betting on a wider range of sports where an agreement is reached with Sport New Zealand.

The formula for distributing payments to sporting and racing codes will be placed into regulations, so they can be more readily changed when needed by the industry.

“This Bill is an important first step. However, while the race has begun we are still far from the finish line” says Mr Peters, who intends to introduce a second Bill later this year to build on these initial reforms.

The second Bill will establish post-transition governance arrangements and other changes deemed necessary to ensure the revitalisation of the industry.

“As a whole, these reforms serve to emphasise the value of racing in New Zealand,” Mr Peters says.

“The Racing Reform Bill lays out an opportunity to deliver real results, to grow this industry for the benefit of our regions, our communities, and our economy.”

RITA Board appointed

Racing Minister Winston Peters has announced who is being appointed to the Racing Industry Transition Agency (RITA) following the passing of the Racing Amendment Bill this afternoon.

RITA will be led by Dean McKenzie (Chair), Bill Birnie, Liz Dawson, Kristy McDonald, Anna Stove and Sir Peter Vela.

“With transitional powers, RITA will enable the urgent changes required to drive the racing industry toward a financially sustainable future,” says Mr Peters.

To provide continuity and maintain the momentum for change, the Chair and members of the Ministerial Advisory Committee (MAC), established by the Minister in 2018, have been appointed to the board of RITA.

“Mr McKenzie’s experience, dedication and passion to improving the industry make him the ideal choice to lead this very important work,” says Mr Peters.

Members of the MAC, Bill Birnie, Liz Dawson, Kristy McDonald and Sir Peter Vela will continue to support Mr McKenzie in revitalising the racing industry.

Mr Peters expects that Ms Stove will bring a fresh perspective to RITA, along with her extensive experience in leading and driving transformational change.

“The appointed Board members have a wealth of knowledge and experience in the racing industry, sport at a national level, and the commercial and legal expertise to manage devolution of assets, functions and responsibilities,” Mr Peters says.

“I am confident that the unique skills and governance expertise the appointees bring with them to RITA, will enable them to excel in their roles, and in revitalising the racing industry,” says Mr Peters.

RITA will lead the transition of the racing industry to its future state and manage the day-to-day operations of the industry and for an expected period of 12 months.