Over the next five years, Sydney's racing enthusiasts will witness a significant transformation as the renowned Rosehill Gardens undergoes development into residential areas, ceasing its role as a racing venue.

Following negotiations between the Australian Turf Club (ATC) and the NSW Government, it was revealed on Wednesday night that the iconic Golden Slipper location will be repurposed for 25,000 homes in the city's western region. In exchange for the closure of the racecourse, the ATC and Racing NSW are set to receive an estimated $5 billion boost, ensuring that their facilities and offerings remain at the forefront globally.

Additionally, Warwick Farm and Canterbury are slated for substantial upgrades, likely becoming host venues for more metropolitan events, with Randwick also anticipated to benefit from this strategic decision.