Taupo Mayor Rick Cooper was “gutted” his town had lost the event.

“It’s a real bomb-blast for us. I’m extremely disappointed; gutted would be a better word,” he said. “Especially after we were voted best venue by the drivers last year.”

Cooper said Taupo was trying to market itself as an “event town” and to lose one of its major events was tough.

He hoped it wouldn’t cost jobs but said there would be major ramifications. Estimates of the event’s worth to Taupo are about $8 million, but Cooper said the move north would cost his town at least that.