New King Charles III Stakes worth £2.62m to be run at 'bigger and better' Sydney Everest carnival

A new Aus$5 million (£2.62m/€3m) race, the King Charles III Stakes, celebrating both the King's accession to the throne and reflecting the huge prize-money available at the Sydney Everest carnival has been announced by Racing New South Wales.

The inaugural King Charles III Stakes will be run at Royal Randwick over 1,600m (one mile) at weight-for-age conditions on Saturday, October 14 alongside the TAB Everest, the second-richest race in the world and the richest race on turf, whose prize-money will increase to Aus$20m (£10m/€12m)

Additional prize-money and new races will mean a further Aus$12m (£6.3m/€7.3m) of prize-money will be available throughout Australia's richest carnival.

Racing NSW chairman Russell Balding said “The King Charles III Stakes creates a new level of excitement for the Sydney Everest carnival, with a feature open-age mile race boosting an already mouthwatering Everest meeting.

“It is befitting for Royal Randwick to have a feature race in spring named in honour of His Majesty to complement the Queen Elizabeth II Stakes in autumn, with Royal Randwick being Australia’s only royal racecourse.” 

The NSW minister for gaming and racing, David Harris, said: “Racing makes a significant contribution to the NSW economy. Last year, more than 46,000 people attended The Everest at Royal Randwick and spent money at restaurants, pubs and hotels across the city.

“The increased prize-money for the Everest and the addition of the King Charles III race will create an even bigger and better event this year, with positive flow on effects for the 50,000 people directly and indirectly employed in the NSW racing industry.” Harris said.

Balding added. “At Aus$20m of prize-money, the TAB Everest is now the second-richest race in the world and the richest race on turf. This further increase in prize-money is not only recognition of the TAB Everest as being the highest-rated race in Australia but also of the success this event has created in flow on benefits throughout the entire NSW thoroughbred industry for the whole of the year.

“Since its inaugural running in 2017, the TAB Everest has consistently rated as the highest or equal highest sprint race in the world,” he added.

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