Gibraltar-based gaming operator 32Red has struck a deal with racing venue operator Jockey Club Racecourses to become the main sponsor of Kempton Park’s prestigious King George VI Winter Festival and Lanzarote Hurdle Day fixtures.

The three-year deal sees 32Red replace William Hill as the fixtures' main sponsor, with the first 32Red King George VI Winter Festival taking place over December 26th and 27th this year.

It takes place at Kempton Park, a course in the English town of Sunbury-on-Thames, with the King George VI Chase the event's principal race. Horses have contested the chase since 1937, and today it is the second most prestigious race of its category in England after the Cheltenham Gold Cup.

The two-day festival also includes the Grade 1 race, the 32Red Kauto Star Novices’ Chase and the Grade 2 32Red Desert Orchid Chase.

The agreement continues into January 2017, with the operator sponsoring the Tolworth Hurdle day at Kempton's sister course Sandown Park and the Listed 32Red Lanzarote Hurdle, scheduled for January 14th. The operator has sponsored the Tolworth Hurdle since 2011.

The deal further extends 32Red's close relationship with Kempton Park, where it has sponsored 45 races in 2016 alone.

Last month 32Red agreed a similar three-year deal with Jockey Club Racecourses to sponsor the 2016 Sprint Cup and the three-day Sprint Cup Festival in 2017 and 2018 at Haydock Park Racecourse in Merseyside.

Jockey Club Racecourses regional director for London Phil White said he was delighted to extend his company's partnership with the operator, especially due to its status as a founding Authorised Betting Partner (ABP) of British Racing.

White paid tribute to previous sponsor William Hill, but added that it was not possible to extend this partnership as the operator is yet to be certified as an ABP.

"The 32Red King George VI Chase has been won by some of the best Steeplechasers we will ever see, with Desert Orchid winning the race on four occasions and Kauto Star going one better to post a record that may never be matched," he said. "Last year's finish between Cue Card and Vautour was one of the most exciting I’ve witnessed and the scenes when Sprinter Sacre came back into the winners' enclosure the next day after winning the Desert Orchid Chase was an emotional moment for even our hardiest racegoers."

"I look forward to seeing what unfolds at this special race meeting this year now with 32Red's most valued backing, as well as on 32Red Lanzarote Hurdle Day, 32Red Tolworth Hurdle Day and across the rest of their sponsorship portfolio with Jockey Club Racecourses."

32Red CEO Ed Ware said the company is delighted to be sponsoring the King George VI Chase at Kempton Park for the next three years.

"Only a cursory glance at the roll call of previous winners of the King George VI Chase makes you appreciate the truly historic status of the race, and to have 32Red's name attached to it is very exciting," he said. "We are long established in horse racing sponsorship and are already the largest supporter of British Racing in numerical terms, but this seven-figure sponsorship package adds more quality and profile to our portfolio.

"Our three-year sponsorship of today's 32Red Sprint Cup, along with our recently renewed commitment to the £1m All Weather Championship Series, plus extending our support to the 32Red Tolworth Hurdle at Sandown Park, and adding the 32Red Lanzarote in too, means we are now not only leaders in terms of quantity but also quality."

Shares in 32Red plc (Co. Data) (LSE:TTR) were trading up 3.57 per cent at 139.56 pence per share in London Monday.