"It employs 42,000 people, a lot of them young people and Treasury needs to understand it not only has a significant economic impact but a social impact on New Zealand," Peters said.
"So we are going to make some positive changes."
Peters hinted at stakes increases and changes to the industry's betting arm the TAB, but without specifics.
He did however confirm he would be seeking money for at least one, maybe more, all-weather racetracks in the May budget.
"The cancellations of race meetings is costing the industry millions of dollars.
"And all-weather track can help by giving us options to hold those meetings."
The most likely region to get the first all-weather track would be the racing-strong Waikato, where Peters had extremely vocal backing pre-election from major racing industry players.
No mention was made of a similar all-weather track in the South Island while the closure of smaller tracks with failing facilities and racing surfaces was not mentioned.
The racing industry, hoping for a silver bullet to be fired, was largely underwhelmed.
But it was at least left with a sense Peters is serious about improving the industry.
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