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Qld Govt Invests $15.7m At Magic Millions Gold Coast

Wednesday, 9th June 2010

The Queensland Government will invest $15.7 million "to secure the Gold Coast as the home of Magic Millions through to 2017". Premier Anna Bligh announced the increased funding (delivered through Queensland Events Corporation) will "help make Magic Millions bigger & better, with more money for marketing & promotion & additional activities to enhance the event". Bligh noted: "The Magic Millions racing carnival & yearling sales showcases Queensland's racing industry & the Gold Coast to the world. It also cements the Gold Coast as the events capital of Queensland & a premier tourism destination. There was strong interest from NSW & Victoria in taking this event away from Queensland, so I'm extremely pleased to announce it is staying at its rightful home - the Gold Coast. Queensland gets major bang-for-our-buck from State Government support of this prestigious event. An independent economic impact study of the 2008 Magic Millions conservatively estimated the event contributed at least $24.6 million to the Queensland economy & an additional $27.3 million in publicity value. International & interstate buyers come here ready to spend - on horses, hotels & hors d'oeuvres. This year the Magic Millions sales had a turnover of $76 million & that's despite the Global Financial Crisis. The glitz & glamour associated with the event generates international publicity & puts the spotlight on the Gold Coast & Queensland as a holiday destination."

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