MANILA, Philippines - The Presidential Gold Cup got the full backing from the Philippine Charity Sweepstakes Office and the Philippine Racing Commission which put up a combined P3.38 million purse to stage the blue-ribbon event on Sunday at San Lazaro Leisure and Business Park in Cavite.
Under a recently signed memorandum of agreement, the PCSO and Philracom agreed to provide the prize fund for one of the biggest stakes races in the country.
The 39th staging of the annual race is held in honor of the Philippine president. It will feature a full gate of racehorses vying for top honors over 2,000 meters.
The Manila Jockey Club Inc., for its part, has committed to broadcast the stakes race on all its 263 off track betting stations strategically located in Metro Manila and nearby provinces.
It will also air all the races live on the San Lazaro Broadcast Network cable channel.