Merv Peter's racing career dates back to 1947 when he began his association with the Vancouver Sun sports department. Throughout his years with the newspaper, Peters was a racing writer and handicapper, covering events at Exhibition park and, eventually, he became sports editor. He was instrumental in the establishment of graded purses at the track. He also hosted the first live television show on racing in British Columbia with Ted Reynolds on CBC network.

In 1961, Peters joined the newly formed British Columbia Jockey Club (BCJC) - his first position being as associated steward. He became presiding steward and director of racing in 1963. He was named general manager of the BCJC in 1975.

During his years at Exhibition Park, Peters has been one of the few managers at a major racetrack that has seen their average daily wagering handle grow ten fold; from just over $100,000 in 1961 to just over $1 million today. Some of the major developments at the downtown Vancouver track during Peters tenure include: realignment of the racetrack in 1964, extension of the public facilities in 1975, installation of track lighting in 1968, computers to the racing office in 1981, introduction of the sweep-six wager in 1982 and spearheading the pivotal development in B.C. racing history - the industry's successful appeal to the provincial government to reduce the pari-mutuel tax in 1971.

In 1965, Peters became one of the founding members of what was then the National association of Canadian Racetracks, now known as Racetracks Canada. Five years later, he became that association's third president and in 1982, served a second term in that capacity.

Peters is also responsible for establishing Racetrack Security Canada and remains the president of that organization.

Peters' list of contributions to the horse racing industry include important roles in exotic wagers, telephone account betting, inter-track betting, foreign race seperate pool betting, teletheatres and the reduction of the impact of the Goods and Services Tax on racing in British Columbia.