A total of P6 million in prizes is up for grabs in the 45th Presidential Gold Cup in Batangas, Philippine Charity Sweepstakes Office general manager Alexander Balutan said on Monday.
He said PCSO will be sponsoring P5 million in prizes and the Metro Manila Turf Club Inc. has added P1 million for the first prize only.
During the launch of the 45th GC last Friday at the Manila Golf and Country Club in Forbes Park, Makati, Balutan said the horseracing event was scheduled on Dec. 10 at the Metro Turf Racing Complex in Malvar town.
Balutan and MMTCI president and chairman Norberto Quisumbing Jr. led the signing of a Memorandum of Agreement for the prestigious event.
At the same event, Quisumbing confirmed the P1-million additional prize from the Philippine Racing Committee (Philracom) that would boost the total first prize to P4 million. The second prize gets P1 million; third place is worth P500,000; and breeders get P200,000.
“As the most awaited and considered to be the premier event in the local horseracing industry, the PCSO is very pleased to stage the 45th Presidential Gold Cup through the initiative of the MMTCI,” Balutan declared.
Balutan thanked the men and women behind the horseracing industry that supports PCSO’s heart, which is charity.
“Through horseracing we are able to help not only those who are in need of medical assistance, but also those within the horseracing industry through jobs that it entails,” he said.