According to a report, Betfair, the online betting exchange, has come to an agreement with England’s Ascot Racecourse to become the new sponsor of the prestigious King George VI and Queen Elizabeth Stakes.
The Group 1 thoroughbred stakes events are held every year in July. A report on igamingbusiness.com states that the two companies have reached a five-year, seven-figure deal.
"We are delighted to have the opportunity to work with Ascot on this ground-breaking agreement, especially as it will take us up to and beyond the course's historic tercentenary in 2011,' Stephen Burn, Betfair's director of Horseracing, was quoted as saying in the report.
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(With files from igamingbusiness.com)