Magical day worth millions to Queensland economy

One of the world’s richest horse racing events taking place on the Gold Coast today will deliver millions of dollars to the Queensland economy.

Premier Annastacia Palaszczuk said the Magic Millions Raceday was the highlight of The Star Gold Coast Magic Millions Carnival—supported by the Queensland Government through Tourism and Events Queensland.

“It is the richest day on the Queensland racing calendar with $10 million in prize money attracting thousands of race-goers and tourists,” the Premier said.

“And overall, whether it’s for thoroughbred racing, polo, the yearling sales or the social side, the carnival injects millions of dollars into our economy.”

Last year’s race day, sales and polo resulted in 47,293 visitor nights which was an increase of 4,243 visitor nights year-on-year, leading to a total economic impact for Queensland of $25.67 million.

“That is why my Government, through Tourism and Events Queensland, is committed to supporting The Star Gold Coast Magic Millions Carnival in the years to come,” Ms Palaszczuk said.

Minister for Tourism Industry Development Kate Jones said the Magic Millions was a significant international event attracting the top owners and horses as well as keen race-goers, amateur enthusiasts and curious tourists.

“It is one of a number of events on our summer months calendar including Test and T20 cricket, the Woodford Folk Festival, Eurovision: Australia Decides, and the 9th Asia Pacific Triennial of Contemporary Art, Ms Jones said.

“We estimate our summer program will deliver more than $80 million to the economy, contributing to our $25 billion tourism industry.

“Our State is an international events and tourism destination, and that’s something we can all celebrate because tourism delivers billions for Queensland.”

Racing Minister Stirling Hinchliffe said the highlights of the Raceday included the $2 million Gold Coast Magic Millions Two-Year-Old Classic and the $2 million Gold Coast Magic Millions Three-Year-Old Guineas.

"The Classic offers an additional $500,000 in bonus prize money—distributed to the first four all-female owned or leased horses to cross the finish line—as part of the Magic Millions Racing Women’s Bonus initiative to promote thoroughbred racehorse ownership by women,” Mr Hinchliffe said.

Source: https://teq.queensland.com/