Racing NSW says Peter V'landys' initiatives secured $3.5 billion in new funding.
"Peter V'landys has been, without doubt, the most effective and successful administrator in the history of Australian sport," Dr Saranne Cooke said.
V'landys confirmed Thursday that he will leave Racing NSW when his long-service leave ends in November, ending 22 years as chief executive.
He took that position in early 2004 after 17 years leading NSW Harness Racing.
His racing tenure included managing the equine influenza outbreak and helping establish The Everest in 2017.
The move is expected to make him the NRL's executive chairman, replacing Andrew Abdo while retaining the ARL Commission chairmanship.
V'landys has led the commission since 2019.
Clubs, states and fellow commissioners support the appointment, which could become official Thursday.
It would be the first time since the independent commission began in 2012 that its chair also held a full-time executive role.
In May, after Abdo announced his resignation, V'landys said only "Superman and Jesus added together" could replace him.
He had declined to say whether he could take the role, but indicated in July that he would leave Racing NSW temporarily to focus on the NRL.