Waterhouse's comments come on the back of the VRC and Racing Victoria undertaking a full review of last month's successful Melbourne Cup Carnival.

The Melbourne Cup winning trainer praised the VRC and said it should stand solid with RV regarding the carnival and not worry or listen to what Racing New South Wales is doing with its racing.

"I think the VRC and Racing Victoria should just take a deep breath about the Melbourne Cup Carnival and the Spring Carnival," Waterhouse told ACM Racing.

"It appears to me the VRC and RV are always worried what Racing New South Wales is going to do with things like pop-up races.

"The wheel is not broken at the Melbourne Cup Carnival. It's a time honoured event. There may be a bit of tinkering needed here or there but there's no need for major changes.

"I thought the introduction of Champions Day on the last day of the VRC carnival was sensational. The VRC should be congratulated for what they do for racing.

"The four day Melbourne Cup Carnival has stood the test of time. It's got the history and tradition and there things you can't have in a few short years - you can't match history and tradition."

Waterhouse, who trains in partnership with Adrian Bott, said competition is a great thing in all walks of life.

"Competition keeps you on top of your game. It's for sure I'm not worried about what other trainers are doing. I'm there to get more winners for our owners at Waterhouse-Bott racing.

"We're focussed on what we're doing and not on what others are doing. I often see people just wanting to change things for the sake of change and that's not right - when that happens you often lose your core values and that can ruin your product.

"The VRC and RV should just go quietly, quietly regarding the spring carnival. There's no rush to make big decisions which could have a big impact on the spring."

The powerful training operation has three runners at Randwick on Saturday. Exciting two-year-old filly Platinum Jubilee returns to racing in the $150,000 Drinkwise Plate over 1100 metres after a couple of months away from the track.

"I've got a big opinion of Platinum Jubilee," Waterhouse said. "I think she's a top class filly. Platinum Juiblee's win at her debut was very impressive in the Gimcrack Stakes back in October.

"We gave Platinum Jubilee a short break after her Gimcrack win. We gave her a trial at Canterbury in late November and I wasn't really pleased with that trial so we gave her another one at Rosehill a couple of weeks ago and she went really well.

"The Gimcrack Stakes is run in the spring and is always a strong form guide and I think that will hold her in good stead for this preparation. We'll see how she goes on Saturday before saying she'll have her next run. Undoubtedly, Platinum Jubilee is the best of my three runners for Saturday."

Bet365 have installed Platinum Jubilee as a $2.70 chance in the opening race on the ten race program.

King Of Clubs and Mr Dependable are the other runners for the Waterhouse-Bott stable at Randwick on Saturday.

"Mr Dependable was disappointing last start," she said. "He's going to have to improve on that effort. Saturday will be his second-up run. He's got very good second-up form and I'm just hoping that happens again in the restricted race on Saturday.

"King Of Clubs has had the one run back from a spell. His first-up effort to run second was very good. He made up a lot of ground over the concluding stages and he's trained on from that run. I think he should run well."

King Of Clubs is a $4.20 chance with Bet365 to win the 2400 metre race while Mr Dependable is rated a $41 hope of winning.

Waterhouse has just finished inspecting 700 yearlings at studs in New South Wales and Victoria over the last few months in the lead-up to the Magic Millions Yearling Sales on the Gold Coast in January.

"I started inspecting yearlings in October," she said. "It's been a very hectic few months with inspections and . I've inspected 700 yearlings.

"There's some magnificent yearlings that will be sold at the sales. We'll head up to the Gold Coast on January 2 for just over two weeks for the yearling sales and the races.

"The Magic Millions is a huge event. People come from all over Australia and overseas to go to the sales and the races. There's always a great vibe up at the Gold Coast as people are enjoying the holiday break as well as the sales and the races."

The 2023 Magic Millions Yearling Sales are on from January 10 to 16.