Queensland Racing Industry Annual Prizemoney Boosted By $12 Million

Queensland Racing Industry Annual Prizemoney Boosted By $12 Million

Queensland Minister for Racing Stirling Hinchliffe

$12 Million Annual Prizemoney Boost For Queensland Racing Industry

Victor P Taffa

Queensland racing industry is set to benefit from an extra $12 Million in annual prizemoney, Racing Minister Stirling Hinchliffe has announced.

Minister Hinchliffe said the additional prizemoney was a massive win for Queensland racing industry participants across all 3 codes.

$12 Million increase will deliver an additional

  • $8.6 Million to thoroughbred racing,
  • $3 Million to greyhound racing,
  • $400,000 to harness racing.

Increases will take effect on a pro-rata basis from 1 February 2018.

“Racing Queensland’s extended prizemoney package is exactly what the racing industry has been crying out for.” Minister Hinchliffe said.

“It means an extra $12 Million will be pumped directly into the industry each year across the thoroughbred, greyhound and harness racing codes.”

“This comes on top of the $3.2 Million prizemoney boost announced by Racing Queensland in 2017.”

“It’s been made possible by our four-year $70 Million country racing package announced in November, which will see country racing treated as a community service obligation for the first time in Queensland’s history.” Minister Hinchliffe said.

“Palaszczuk Government is going all out to grow and prosper racing throughout Queensland, and I look forward to seeing the massive benefits this increased prizemoney will deliver to the industry.”

“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.”

Minister Hinchliffe said metropolitan, provincial and regional racing would all share in this extra prizemoney.

“Metropolitan premier stakes races will be increased to $70,000 per-race from the current $60,000.” Minister Hinchliffe said.

“Provincial clubs at the Sunshine Coast, Gold Coast and Ipswich will have all maiden races boosted by $1,000 to $15,000.”

“Regional provincial clubs will have standard stakes boosted by $2,000 per race and northern feature carnivals will be increased by a total of $527,000 to be spread across carnivals from Rockhampton to Cairns.”

“Overall the additional money represents a 16.6 per cent increase to metropolitan premier stake races while regional TAB races will see a 16 to 20 % increase from their current stakes.” Minister Hinchliffe said.

“This additional investment is crucial for the Queensland racing industry, which employs or engages 42,000 people and delivers an annual economic impact of $1.2 Billion.”