NEW KENT COUNTY, Va. (WRIC) — Governor Glenn Youngkin announced on Sunday that the Virginia Derby will now be a qualifying race for the Kentucky Derby.

“This is a big, big deal. In just two seasons, we now have three high-stake races, and we’ve got a qualifier for the Kentucky Derby,” Youngkin said. “And on top of that, it’s all happening right here in Virginia.”

This means the winner of the Virginia Derby will earn 50 crucial points towards the qualifications for the Kentucky Derby held in Louisville.

The announcement came during the second annual Festival of Racing, which drew dozens of horses and their riders as well as hundreds of audience members.

“The festival of racing features three stakes races — the Secretariat stakes, the Beverly RD and Arlington million,” said Nate Mize, Senior Director of Marketing at Colonial Downs.

Between the races this past weekend, $3 million was up for grabs depending on the winners, but after the announcement was made, it was all the excitement.

Tickets for the Virginia Derby and more information on what is to come can be found here.