The New Zealand Racing Board is not waiting around for the stalled racefields legislation to come back to life.
The long-awaited Racing Amendment Bill - known as the racefields legislation - has sat dormant in Parliament after cheers from the racing industry that it had finally had its first reading late last year.
The proposed legislation was set to charge overseas bookmakers for the use of New Zealand betting products and inject much-needed cash into the racing industry's coffers.
The racing board's statement of intent reveals the organisation is working around the lack of legislation and is making its own agreements to collect fees from overseas bookmakers.
In the statement's overview, NZRB chairwoman Glenda Hughes and chief executive officer John Allen said they had signed an agreement with Australian betting giant Crownbet.
``In April, we signed a product fee and media rights deal with Crownbet in Australia which will see all New Zealand racing available as part of Crownbet's digital offering.
``We've taken positive steps to mitigate some of this impact by speaking directly to corporate bookmakers to implement agreed racefields-type product fees for New Zealand racing.''
If the NZRB can sign agreements with more overseas bookmakers it will go some way to stopping the masses of cash it estimates is leaking from its coffers.
Hughes and Allen said the Racing Amendment Bill not being passed was costing around $1million each month.
``This delay impacts NZRB's profit target for the year and is costing the industry around $1million each month from product fees not being collected.''
Racing Minister Winston Peters said recently the Racing Amendment Bill was not fit for purpose and that he had ``pulled it'' from progressing any further.
Peters said the Racing Act could be overhauled if John Messara recommended it should be.
Australian Messara made recommendations on how to reform the racing industry in a thoroughbred-focused review delivered to Peters last week.
Messara could also recommend drastic change to the NZRB itself and its role in collecting and generating revenue for the racing industry.
Peters has indicated he will take at least two weeks to consider Messara's report before making any announcements on what it contains or whether he will attempt to enact its recommendations.
The NZRB's statement of intent forecasts its distribution to the racing codes will lift from $150.8million this racing season to $151.6million next year.
It has set lofty goals of delivering $172.2million in the 2019-20 season and $190million in 2020-21.
