Southland Racing Club president Sean Bellew said Ascot was the nation's only triple-code track and second busiest, behind Addington, hosting about 40 annual greyhound meetings alongside harness and thoroughbred racing.
The club owned the track and leased it to a consortium of the three racing bodies.
He expected Invercargill's hospitality industry to also take a financial blow alongside the club.
The Southland club would support any submission made by greyhound clubs, but envisaged the issue would eventually end up with lawyers involved, he said.
Mr Bellew was surprised by Minister for Racing Winston Peters' decision to shut the sport down.
"He sort of threw them under the bus really ... it's looking pretty woke to me.
He wondered if the decision to end greyhound racing would eventually impact the equine racing sector and how it operated.
"We're going to get thrown under the bus eventually ..."
Canterbury breeder and trainer Craig Roberts said the industry was "shell-shocked" by the government's announcement.
Mr Roberts said at a Southland Greyhound Racing Club meeting last week, the industry was stunned by the decision to shut everything down by August 1, 2026.
"In my opinion as a trainer, Winston Peters has put no thought into this process whatsoever ..."
"People have lost livelihoods, their lives have changed forever."
Mr Roberts was disappointed Greyhound Racing New Zealand had no prior knowledge of the decision and believed it should continue.
"There was no communications with GRNZ that this was going to happen and that's disgraceful, absolutely disgraceful behaviour from the minister.
"We would be the most regulated sporting body in the country by a mile."
Mr Roberts said the industry spent $9million per year on animal welfare and re-homing programmes.
"That's nearly half the amount of stake money that we race for. So our commitment to welfare of the greyhounds and re-homing is second to none, it outweighs the thoroughbred and the harness industry by a mile."
Greyhound Racing New Zealand chairman Sean Hannan said the industry had implemented significant reforms to address animal welfare concerns.
Mr Roberts believed the new regulations had helped to "iron out" areas of concern but there were "rogues in all walks of life and industries".
"There is no place for rogue or scoundrels in our industry any more.
"At the forefront of our regulations is, no dog gets euthanised unnecessarily, It's illegal."
Mr Bellew said he was bewildered by the decision.
"I would see far worse-treated dogs through my daily working life, far worse off animals than greyhounds.
"Most sporting animals are treated with a great deal of love and respect, you treat things kindly.
If you treat it badly, it's not going to perform well for you."
Mr Roberts believed the decision to close the industry was unwise and better if a ban on breeding came first.
Mr Peters claimed there were 2900 greyhounds in New Zealand, but Mr Roberts said the uncounted newborn and pups due to be born made the number much greater.
Under Mr Peters' timeline, all unborn pups would need to be immediately placed into the re-homing pool.
Mr Bellew believed shutting the industry down would force New Zealand-bred dogs to be sold offshore.
"The greyhound fraternity are a smart bunch of people and they'll look for alternative routes and a better solution.
"It's going to push dogs offshore. It's going to create a new pathway in terms of bringing dogs into New Zealand and selling them to Australia.
"I personally believe the ruling's far too woke."
- By Toni McDonald