The addition of the Magic Millions The Syndicate, a 1200-metre race for 3-year-olds and up, and Magic Millions The Debut, a 900-metre race for 2-year-olds having their first start, will ensure a feature packed raceday of 10 races.
Eight of those races will be worth $1 million or more in 2023, an Australian first, and behind only the Dubai World Cup meeting and the second day of the Breeders’ Cup World Championships, which offer nine races with prizemoney at that level.
The $1 million Magic Millions Snippets 2021 | Image courtesy of Bronwen Healy
The announcement came ahead of the 2022 raceday next Saturday, and will no doubt whet the appetite of potential buyers ahead of this week's 2022 Magic Millions Gold Coast Yearling Sale, which begins on Tuesday.
The new initiative was announced with the support of Racing Queensland and the Queensland Government on Sunday.
“It’s fantastic to see this incredible event continue to grow, with the upcoming expansion providing even more reason for racing and equine enthusiasts to come, stay and see everything the Gold Coast and Queensland has to offer, including the world-famous beach gallop; barrier draw; and yearling sales,” Racing Minister Grace Grace said.
“It’s fantastic to see this incredible event continue to grow, with the upcoming expansion providing even more reason for racing and equine enthusiasts to come, stay and see everything the Gold Coast and Queensland has to offer." - Grace Grace
“Importantly, The Star Gold Coast Magic Millions Carnival is responsible for generating more than 31,500 bed nights and contributing $38.7 million to the Queensland economy on an annual basis.”
Syndicates get their own race
The innovative changes see the establishment of the Magic Millions The Syndicate, a $1 million race exclusively for horses which are owned by a minimum of 20 individual registered owners and/or syndicate members. Horses must have raced with that number of owners since their first start.
Syndication has underpinned the broader economy of the Australian thoroughbred industry for 30 years, making ownership affordable to a broader a range of people than anywhere else in the world. A recent report from Aushorse indicated that one in every 254 people in Australia is involved in horse ownership.
Connections of Chapter And Verse after winning the $1 million Magic Millions QTIS Open | Image courtesy of Bronwen Healy
Syndicators have experienced success in Australia's biggest races, including The Everest, the G1 Melbourne Cup and a host of Magic Millions races.
Syndication companies made up 17 of the Top 100 buyers at last year's Magic Millions Gold Coast Yearling Sale, with around 16 per cent of overall investment in the Sale. Their confidence ahead of this week's Sale will be boosted with a $1 million target race just for their horses.
Rich beginnings
Meanwhile, the Magic Millions The Debut will be run for $500,000 and be restricted to 2-year-old first starters. It will become the richest 2-year-old maiden in the world and prove a perfect complement to the $2 million R. Listed Magic Millions 2YO Classic, which has been run since 1988.
“The incentive to buy, breed and back Queensland racing has never been better,” Racing Queensland Chairman Steve Wilson said.
Steve Wilson | Image courtesy of Racing Australia
“The success of traditional syndicators and now micro-syndication has been well-documented in recent years, and through the addition of The Syndicate, it can scale new heights with hundreds of owners descending on the Gold Coast Turf Club to participate in the Magic Millions, sharing in the ownership journey.
“In conjunction with the $2 million The Star Gold Coast Magic Millions 2YO Classic, The Debut offers an incredible opportunity for owners to obtain an immediate return, and to reinvest in Queensland racing.”
“In conjunction with the $2 million The Star Gold Coast Magic Millions 2YO Classic, The Debut offers an incredible opportunity for owners to obtain an immediate return, and to reinvest in Queensland racing.” - Steve Wilson
Racing Queensland has also confirmed further changes to the race program which will see the Magic Millions Country Cup double in prizemoney from $250,000 to $500,000 and relocate from the Aquis Wave Raceday, which will now host the $250,000 Magic Millions Maiden.
Magic Millions Managing Director Barry Bowditch expects the changes to benefit all sectors of the industry in what has become one of the thoroughbred industry's biggest destination events.
“The introduction of these two innovative races to The Star Gold Coast Magic Millions Race Day will drive significant growth in participation and investment, both new and renewed,” Bowditch said.
“Syndicators across Australia provide an integral pathway to making racing accessible and The Syndicate will enable those large ownership groups to come together and experience one of the biggest and best racedays in the world – on the Gold Coast.
“Syndicators across Australia provide an integral pathway to making racing accessible and The Syndicate will enable those large ownership groups to come together and experience one of the biggest and best racedays in the world – on the Gold Coast." - Barry Bowditch
“These new races will be enormously exciting and will broaden the reach of the raceday.
“Just think of the anticipation of having your horse race for half a million dollars at its first race start in The Debut. This is not happening anywhere else in the world but Queensland.”