The Everest race 2017: Mega race’s $100m boost to Sydney

THE world’s richest turf race will deliver a $100 million boost to Sydney’s economy. The monumental new race day at Royal Randwick, including the $10 million Everest sprint, will be worth more than three times the value of an NRL grand final.

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THE world’s richest turf race is expected to deliver a blockbuster $100 million boost to Sydney’s economy.

The monumental new race day, including the prestigious and money-spinning, Everest, is ­expected to be worth more than three times the value of an NRL grand final as the city strives to go neck-and neck with Melbourne as the home of spring racing.

Racing NSW estimates the event will be worth at least $100 million to the economy. Sunday’s NRL grand final was estimated to be worth $30  million, while the Melbourne Cup is worth a whopping $700 million to the Victorian economy­.

Jockey Ben Melham on She Will Reign, who will be out for victory in the big race. Picture: AAP

Tens of thousands of punters, including dozens of Asian high rollers, are expected to set a new attendance record at Royal Randwick for The TAB Everest, the glitzy 1200m sprint with a total $10 million in prizemoney up for grabs.

Chinese billionaire Yuesheng Zhang, whose company Yu Long Investments has bought one of the 12 $600,000 starting slots, is expected to fly in dozens of associates for the race — in part to learn how to run big turf events in China.

READ MORE: Making the cut for mane event at Randwick

In an extraordinary arr­angement, Mr Yuesheng has teamed up with the 19 owners of this year’s fairytale Golden Slipper winner She Will Reign, including a builder, a housewife, a carpenter, coalminers and other ordinary Australians, to enter the race.

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He bought the slot for the horse and will split any ­winnings with the filly’s ­connections.

The Star casino is also planning to fly in about 40 high rollers from overseas to spend the week in Sydney and enjoy the festivities.

The Melbourne Cup brings in $700 million to the Victorian economy­. Pictured is Melbourne Cup winning jockey Michelle Payne. Picture: David Caird

Sorry, boys... You’ve got nothing on this race. Cameron Smith and Craig Bellamy of the Storm hold up the NRL premiership trophy. Picture: AAP

The Daily Telegraph ­understands that typical high rollers gamble between $1 million and $30 million on a ­single overseas trip.

Racing NSW boss Peter V’landys said the internat­ional interest was the most pleasing aspect of the publicity generated by The Everest. “The Star Entertainment Group who purchased a slot have been overwhelmed with the attention from Asia,” Mr V’landys said.

It may not be quite the Melbourne Cup yet, but The Everest’s appeal is quickly growing in China, Hong Kong and Macau.

Punters celebrate after She Will Reign takes out Race 7 Moir Stakes during Melbourne Racing at Moonee Valley Racecourse. Picture: Getty Images

And its appeal is also gaining ground in the Middle East, with at least two mega-wealthy sheiks are expected to travel for the race.

“There could be no better place to have the world’s richest turf race than at Royal Randwick. It’s going to be a great addition to the world racing calendar,” Racing Minister Paul Toole said.

“It’s attracting visitors from all over the world, providing a major economic benefit to the state. It will be great to see the pubs, clubs, restaurants and cafes full of people who’ve come to Sydney for The Everest. And that means a boost for jobs.”

Strapper Steve O'Halloran and English at the Tempest Morn Stables, Sydney. Picture: Jason McCawley / News Corp

Almost 27,000 people crammed into the newly configured Randwick in April but Racing NSW hopes to attract more than 30,000 for The Everest, which is being held for the first time on October 14.

Actor Sophie Dillman, a new player on the Sydney ­social scene, will attend the Everest — her first Sydney racing event. The Home and Away actor is excited to see the city play a big role in the spring carnival.

“Start with a bang! I’ve heard so much about the event and how spring racing has become a big deal in Sydney so I can’t wait,” she said.

Actor Sophie Dillman is revved up for The Everest. Picture: Christian Gilles

The glamorous new race is expected to be televised in 150 countries and coincides with Friday night prime-time viewing in the US. It’s been timed after the NRL and AFL seasons and just a week into the fledgling A-League season to try and capture the sporting public’s imagination.

Several thousand visitors are expected from interstate, giving the city’s hotels, restaurants and other businesses a welcome shot in the arm.

Retailers are also expected to benefit as punters snap up the latest trackside fashion.

Jockey Ben Melham charges home on She Will Reign to win the Longines Golden Slipper during Golden Slipper Day at Rosehill. Picture: AAP

“Thanks to The Everest, the NSW economy will be sprinting ahead as it’s being held in a traditionally quiet period — after the footy finals and ­before the summer sports kick off,” Margy Osmond, chief executive of the Transport and Tourism Forum, said.

“It’s fantastic to have a world-class event that will cement Australia’s reputation as the greatest sporting nation in the world and will attract international expo­sure with guest performer Jason Derulo.”

The Everest is the brainchild of Mr V’landys and has been based on Florida’s Pegasus World Cup, run for the first time in January with a $15.3 million prize pool.