New Plymouth Raceway fears damage to its horse racing track could cost hundreds of thousands of dollars to repair.
The organisation was moving its Christmas Eve horse races to Hawera after vandals poured an unknown substance onto the ground.
Taranaki Racing chief executive Carey Hobbs said a large portion of the track had been damaged including the home straight.
He said it was now unsafe for racing and neighbours were being contacted to see whether they saw anything.
A phantom race day will still go ahead at New Plymouth on Christmas Eve, with spectators watching the races from Hawera on big screens.
On its website, New Plymouth Raceway said the gates would open at 11.30am with the first race beginning at 12.27pm.