Investigations by Racing Victoria and Ararat detectives have determined the act was deliberate.

The club along with Stawell and district residents have found it difficult to comprehend the motivation behind such a callous act.

The long-term fall-out is yet to be determined, with test results due next week.

In the short term, the club has been forced to abandon its iconic Stawell Gold Cup meeting on Easter Sunday its biggest and most lucrative meeting of the year.

It is a popular event on Stawell's jam-packed Easter calendar, attracting about 4000 racegoers each year.

Stawell Racing Club operations manager Penny Penfold said it could take the club up to two years to recover from the financial loss.

But despite the devastating blow, the club has picked itself up and soldiered on.

It will still provide for its thousands of loyal patrons on Easter Sunday.

There might not be any horses, but the family fun day will offer plenty of activities to entertain adults and children alike.

The club should be commended for its efforts to provide for the Stawell community, which grows by thousands each Easter.

Let's hope the community returns the favour.