Prizemoney boost hailed as ‘step forward’
MAGIC Millions bosses have praised a State Government boost for prizemoney in Queensland but say it’s still way behind NSW and Victoria.
Gold Coast race days are now a bit richer with the State Government pumping an extra $12 million into annual prizemoney across Queensland.
Racing Minister Stirling Hinchcliffe announced the new annual cash injection – kicking in from February 1 – at the Gold Coast’s Magic Millions auction in Bundall yesterday. The prizemoney boost sees an extra $8.6 million for thoroughbred racing a year, $3m for greyhounds and $400,000 for harness racing.
Mr Hinchcliffe said metropolitan, provincial and regional racing would all share in the boost.
“Metropolitan premier stakes will be increased to $70,000 per race from the current $60,000.
“Provincial clubs at the Sunshine Coast, Gold Coast and Ipswich will have all maiden races boosted by $1000 to $15,000,” he said.
“These prizemoney increases couldn’t have come at a better time, as the eyes of the racing world are on the Gold Coast’s Magic Millions Carnival – a unique racing, bloodstock and tourism event on a global scale.”
Magic Millions owner Gerry Harvey, whose stewardship has seen it put on Australia’s richest annual race day – including this Saturday’s lucrative event with $10 million in prizemoney – said “it all helps”.
“But Queensland is still a long way behind the other states,” he added.
Magic Millions managing director Vin Cox said any lift in prizemoney had to be positive news for a jurisdiction in third place behind NSW and Victoria.
Racing Queensland CEO Dr Eliot Forbes said the new money was “another step forward in delivering on Racing Queensland’s commercial plan to boost confidence and continue to bring meaningful benefits to industry participants”.