CAPE RACING ANNOUNCES MAJOR STAKES INCREASES FOR UPCOMING SEASON
Thanks to a R15-million stakes sponsorship by Hollywoodbets, Cape Racing is delighted to announce a minimum 35% increase in stakes across the feature and minor race programme for the coming season. As a result, stakes will increase from approximately R55 million for the twelve months ended 31 July 2022 to approximately R75 million for the current financial year, commencing 1 August 2022.
There have been particularly high increases for lower-level handicaps and Maiden Plates, especially during the ‘Out of Season’ programme (March 1 – October 31).
The increases also ensure that no race will be run for less than R100 000 during the ‘Summer Season’ (November 1 – February 28).
Cape Racing is also pleased to announce the launch of the Cape Summer Festival, an exciting innovation coming to the region for the first time. Of the twenty-two meetings during the Summer Season, nine will be designated as Summer Festival meetings. Races on Summer Festival days will be contested for even higher stakes. The dates of this season’s Summer Festival days are:
November 19, 2022 – featuring the Concorde Cup
December 3, 2022 – featuring the Green Point Stakes
December 17, 2022 – featuring the Cape Guineas and the Cape Fillies Guineas
January 7, 2023 – the L’Ormarins Queen’s Plate race day
January 14, 2023 – featuring the Jamaica Handicap
January 22, 2023 – featuring the Politician Stakes
January 28, 2023 – the World Sports Betting Cape Town Met race day
February 25, 2023 – featuring the Jonsson Workwear Cape Derby
Cape Racing’s Executive Chairman Designate, Greg Bortz explained the thought process behind the structure of increases: “It has been very apparent that prize money levels in the Cape have not been of the required standard for some time, especially in comparison to other racing centres in the country. No Cape owner should be racing for R55 000 or R60 000 as we have been in the last few months.
“This has played a major role in the drop of ownership and the corresponding reduction in horse population in the Cape. Cape Racing has moved to immediately address this by implementing these new increased stakes levels. Thanks to the unparalleled commitment of Hollywoodbets, the Cape will rapidly regain its former racing lustre.
"There has been a major focus on lifting the Maiden Plates and lower-level races to respectable levels. For example, the Classified Stakes have been raised from R55 000 to the new levels of R80 000 Out of Season, and up to R100 000 in the Summer Season, almost double the previous stake levels.
“Critically, Maiden Plates will not drop below R100 000 all year. Similarly, also high on the priority list, is the increase of stakes for juvenile racing. We have increased the Out of Season levels from R70 000 or R80 000 to R110 000, and the Summer Season levels from R100 000 to R120 000, with R135 000 available at Summer Festival meetings. This is in line with our strategy of pushing more