Racing Minister Marie-Clare Boothby has defended the beleaguered Racing and Wagering Commission’s alleged conflicts of interest with the industry it regulates – that formed the focus of a recent Four Corners investigation – by suggesting it would be “amazing” if she could take two crossbench MLAs to the racetrack and lay a couple bets down with them to “see what happens”.

Ms Boothby also said in Parliament that owning race horses is “a really good way to be part of the community”, after it was revealed that six of the last 10 racing and wagering commission members, including chair Alastair Shields, owned race horses and accepted gifts and hospitality from the industry it regulates.

The comments came during debate on a matter of public importance raised by independent MLA Justine Davis calling for an “urgent review” into the legislation underpinning the commission, due to perceptions the NT’s regulatory system is “designed to look like oversight while ensuring the industry faces no real consequences”.

Ms Davis referred the Racing and Wagering Act for review by Parliament’s Legal and Constitutional Affairs Committee, but it is unclear if the referral will be accepted by Ms Boothby.

It is also still unclear if the government is reviewing the matters raised in the Four Corners investigation, after initially stating it was “reviewing the allegations aired”, but then appearing to walk that back and taking no action on the serious issues raised.

The investigation titled “Losing Streak” highlighted a dysfunctional regulatory system in the NT that sees the NT RWC act as the nation’s de facto regulator, with weak regulations, no full-time staff, a failure to report transparently, and massive delays in resolving complaints against online bookmakers, often resolving them with minor financial penalties, and not cancelling a single licence, despite serious breaches of the Act by industry.

It also raised a “cosy” relationship between some commission members and industry.

Ms Boothby was asked about the issue last week in Parliament and what the government was doing, but chose instead to attack Four Corners for raising the problems and stating that the commission is working “well within its Act” and doing its job “really well”.

Ms Davis said that was not addressing the problems.

“The government can choose to shoot the messenger, blame Four Corners, accuse those who ask questions of demonising public servants and circle the wagons around the status quo, or it can acknowledge what the rest of the country can see – that the Northern Territory is being used as a jurisdiction of convenience by a $50 billion industry that pays us less than a cent in tax for every $10 it earns, while we provide it with the weakest regulatory oversight in the country,” Ms Davis said on Tuesday.

“The Minister is right on one point. The commission is working within its Act, but that is not the defence that she thinks it is. That is precisely the indictment.

“If a commission that meets once a month with no full-time staff can regulate a $50 billion industry well within its Act, if a commission whose chair accepts hospitality from bookmakers and maintains [personal] betting accounts is operating well within its Act, and if a commission that has never cancelled a licence despite numerous breaches is working well within its Act, the Act itself has a problem.”

Ms Boothby said she acknowledged that “gambling harm happens in our community” and that “some people get addicted”, but pointed to some of the money the NT receives in tax from the industry going to community groups and arguing again that the NT should “make money off people who want to have a flutter”.

“I would love to see the members for Johnston and Nightcliff at the racetrack one day,” Ms Boothby said.

“That would be amazing. We would be able to pick out a horse together and put two bucks on it and see what happens. That would be lovely because I know many members [here in Parliament] enjoy going to the racetrack, and many partners and spouses love it as well.

“There are probably plenty of them who own horses. It is a really good way to be part of the community.”

She added that the Act was reviewed last year and improved “transparency around conflicts of interest”.

Ms Boothby also said if anyone had evidence of “any real claims” they should take it to “the right body to investigate”.

Independent member for Mulka Yingiya Guyula, Greens member Kat McNamara and Labor member Chansey Peach also spoke on the matter of public importance, backing Ms Davis’s calls.

McNamara said it was clear the CLP Government did not want to act on the problems facing the commission and pointed again to a defeated motion that would have banned gifts from industry to senior government officials.

“When you are taking money from an industry you become beholden to that industry,” McNamara said.

“CLP and Labor members can deny this all they want, but Territorians are not stupid; they can see what is happening. They can see a government that refuses to properly regulate a $50 billion industry causing immeasurable harm because they are too compromised to act.”

The RWC released its first annual report since 1993 last week, that confusingly showed $1 million was spent last year on “employee remuneration” despite not having any dedicated staff.

“Can the Minister tell Territorians who is being paid $1 million to work with a commission that meets only once a month,” Ms Davis asked.

Ms Boothby’s office has repeatedly refused to answer questions about the RWC and its problems, including the $1 million figure for employees in the annual report and if the pledged review into the perceived conflicts of interest by the commission members is currently being undertaken.

She would also not say if Ms Davis’s referral of the legislation would be accepted by the government.