Horse breeder Graham Bax was at the same table as Winston Peters at the Tauranga Club; his daughter Kylie Bax was at the Racing Minister's Claudelands announcement the next day.

Winston Peters disclosed plans to restructure the racing industry to guests at a $600-a-head party fundraiser, before announcing details to affected staff at his own Racing Board.

NZ First and four of its senior MPs hosted the dinner at the Tauranga Club on Wednesday night, 24 hours before the release of a controversial racing industry review. The deputy prime minister – who is also racing minister – promised his guests they would be pleased with the outcome.

About 80 business leaders were present, a significant number of them from the thoroughbred and bloodstock industry, but also a mining contingent led by former Labour MP Clayton Cosgrove, and Sistema plasticware founder Brendan Lindsay.

At the dinner, Peters promised to restructure the NZ Racing Board – something his donors and supporters in the bloodstock industry have been demanding.

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Peters said the racing industry was in a very poor state and needed help, and the restructuring recommended by Australian racing expert John Messara would provide that.

DOMINICO ZAPATA/STUFF Racing Minister Winston Peters releases the Messara racing review at Claudelands Conference Centre in Hamilton.

Peters was joined by his MPs Shane Jones, Fletcher Tabuteau and Clayton Mitchell, who organised the event.

The following night at Claudelands Events Centre in Hamilton, he fronted up to the TV cameras and the NZ Racing Board to announce details of the restructuring proposals, as well as plans to outsource the TAB to be run by an Australian betting agency.

Speaking to Stuff on Saturday night, Peters insisted he did not reveal any compromising details at the dinner. "I didn't go into it," he said. "Why would I, I was releasing it the next day ... I would be letting the side down if I did."

Peters said he had no intention of releasing details of the report before it was given to the New Zealand Racing Board "lock, stock and barrel" the following day.

IAIN McGREGOR/STUFF Racing TV presenter Karyn Fenton-Ellis with husband David Ellis.

As racing minister, he had commissioned John Messara, a top administrator and stud owner in Australia, to review the New Zealand racing industry, which has been in an ailing state for the past decade.

Some of Messara's recommendations include renaming and restructuring the NZ Racing Board as Wagering NZ, with responsibilities devolving to individual codes.

It also recommends reducing the number of racetracks around the country from 48 to 28, building the three synthetic tracks, and increasing prize money to over $100 million a year.

Guests at the dinner said he didn't give details of what was in the report, but he did say he was behind the recommended restructuring.

IAIN McGREGOR/STUFF Jo and Brendan Lindsay, who has focused on his horse racing empire since selling off Sistema, the plastics company he founded.

Blandford Farm breeder Graham Bax said Peters and Mitchell spoke about the report coming out and told the crowd they were behind it.

That was pleasing: "It's time the rural communities were given back to. They have started on racing and that's a big thing. It's got to be positive doesn't it? Anything is better than nothing."

His daughter, former supermodel-turned-breeder Kylie Bax, attended the Claudelands announcement the following evening.

"This restructuring is absolutely what the industry needs," she said. "Some people won't be happy but a lot of people are thrilled. It's a positive report and needs to be implemented, otherwise we won't have a racing industry.

"I applaud Winston Peters. He's really set out to help the industry and stretched his neck out and gone the extra mile. It can put the racing industry back on a positive financial footing.

"There's nobody more passionate about the industry than Winston. Waikato is a big part of the racing industry and we support Winston however we can."

David and Karyn Fenton Ellis, from Waikato's Te Akau stud, were also at the dinner. David Ellis said it was about time the Government showed some support for racing. "All they have done in racing is take, take, take, they haven't appreciated the significant employment opportunities our industry gives people."

Haunui Farms managing director Mark Chitty said he was at a table of eight people with racing interests including Brendan Lindsay (the Sistema plastics founder), Nelson Schick and Brent Taylor. "Everyone knew the report had been commissioned so we were aware of it but Peters didn't say anything about the report in detail.

"We need to embrace the recommendations and change what we have been doing. Something drastically has to be done in the industry as it is dying a slow death."

The industry produced "very good horses and very good people" but the bureaucratic structure of the industry had served the racing community very poorly, Chitty said. "The current structure is archaic and no longer relevant."