OTI Racing is officially going trans-Tasman, with the Australian syndicator becoming a licensed New Zealand syndicator this week.
“We are now a licensed syndicator in New Zealand, which means we can offer horses to the public (in New Zealand),” OTI Racing principal Terry Henderson said.
“They will get the same offering as the Australians do, which could be New Zealand or Australian horses, trained by New Zealand or Australian trainers. We will certainly be racing more horses in New Zealand.”
OTI Racing has been a large investor in New Zealand thoroughbred racing for many years and their silks have also been prevalent on this side of the Tasman, headlined by Vin De Dance’s victory in the 2018 edition of the Gr.1 New Zealand Derby (2400m).
“We have had such a long relationship with New Zealand horses and trainers that it was a natural progression,” Henderson said.
“So many of our Group One winners have been New Zealand-bred horses. I think in the last three years over 60 percent of the horses that we have raced have been New Zealand-sourced.
“We have always relished the idea, as we have in Europe, that they do their early work in their home country and then come to Australia when they are ready. We have done that with quite a lot of horses over the years.”
Henderson said the upward trajectory of prizemoney in New Zealand over the last few years and the relatively low cost in training fees compared to Australia has been a major factor in OTI Racing becoming a licensed syndicator in New Zealand.
“These days we have more horses racing in New Zealand because the way the industry has changed in the last three years, it is an appealing location to race,” he said.
“The cost of training horses in New Zealand is considerably lower than it is in Australia. For our owners, that is quite appealing.
“The whole economic framework of New Zealand racing has changed substantially, and from an owners perspective, it is attractive.
“I looked at a maiden race last week, which was worth $40,000, and we have still got plenty of races here that maidens are worth $30,000.”
Henderson said OTI are finalising their New Zealand contact details this week and he is looking forward to welcoming New Zealanders to his syndicates and offering further opportunities to New Zealand trainers.
“We will have a New Zealand phone number, which is coming through this week, and we will gradually build the profile,” he said.
“There will be more New Zealand trainers in our ranks and possibly more New Zealand horses as well. We are quite looking forward to it.” – LOVERACING.NZ News Desk
