Horse racing events pouring more than $463 million in Victorian economy

HORSE racing events have been credited with pouring millions into the State economy, with the cash injection created by the Caulfield Cup Carnival and 70 other races contributing more than $400 million into the Victorian purse.

Jockey Damien Oliver with racehorse, Hero and Elissa from Vivien's Model Management with the Caulfield Cup at the Caulfield Race Track. Picture: Tony Gough

HORSE racing events such as the Caulfield Cup have been credited with pouring more than $463 million into the State economy.

An economic impact study to be released today reveals events run by the Melbourne Racing Club created 1952 jobs last financial year.

The cash injection was created by the Caulfield Cup Carnival and more than 70 other races which attracted 223,800 patrons across the year.

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MRC chief executive Josh Blanksby said the findings came on the back of more than two million people employed or entertained by the club each year.

“While the Caulfield Cup Carnival and our spring race days are the jewels in our annual calendar, the Club has over recent years placed particular focus on our non-race day activities,’’ he said.

Jockey Damien Oliver with racehorse, Hero and Elissa from Vivien's Model Management with the Caulfield Cup at the Caulfield Race Track. Picture: Tony Gough

The Ernst and Young study shows almost half ($218.8 million) of the $463.9 million contribution to Victoria’s economy came from non-racing activity such as function and venue hire.

The economic boost came from events staged at Caulfield, Mornington and Ladbrokes Park racecourses.

It comes as wonder mare Winx returns to racing at Flemington on Saturday, supercharging the Spring Carnival and building excitement toward her tilt at an unprecedented fourth straight Cox Plate.

The Winx effect is expected to draw crowds and interest throughout the spring with less than 2,000 general admission tickets remaining to this month’s Cox Plate.

The world’s best racehorse will contest the $500,000 Group 1 Turnbull Stakes (2000m) on Saturday, aiming for an unprecedented 28th win in a row and back to back wins in the event.

Sprint favourite Chautauqua will also be paraded to racegoers at Flemington to recognise a glittering career that earned his connections more than $8 million.

The “grey flash’’ will be on show to the public in horse stalls from 1pm and paraded in the Mounting Yard between races three and four.

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