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Queensland racing industry participants will be racing for an extra $12 million in annual prizemoney from today, Racing Minister Stirling Hinchliffe said.
Mr Hinchliffe said the extra prizemoney, announced by Racing Queensland in January, was a massive win for the Queensland racing industry.
“The Queensland racing industry will benefit enormously from this important prizemoney boost,” he said.
“Whether you’re racing in the city or on a regional or provincial track, this prizemoney boost is music to the ears of the industry.
“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.
“The industry participants I’ve met with say this is a giant stride forward for racing in Queensland.
“I want to pay tribute to the great work of Racing Queensland CEO Dr Eliot Forbes and his team, who have made these prizemoney increases possible.
“This prizemoney boost has also been brought about by the Palaszczuk Government’s four-year $70 million country racing package.
“This means that for the first time ever, country racing will be treated as a community service obligation in Queensland.”
Mr 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,” he 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.
“The $12 million increase will deliver an additional $8.6 million to thoroughbred, $3 million to greyhound and $400,000 to harness racing.”
The prizemoney increases take effect on a pro-rata basis from 1 February 2018.