Racing NSW Chief Executive Peter V'Landys says it is not important for the $14 million Everest to have Group 1 status.

The Daily Telegraph reports that Racing Victoria requested the date of the world’s richest turf race be moved to avoid clashing with the Caulfield Cup in return for Group 1 status.

V'landys told Macquarie Sports Radio, "It is disappointing that Victoria won't allow it to be a Group 1 considering every other state in Australia agrees that it should be a Group 1.

"The only reason they won't make it a Group 1 is because we have to shift the date away from the Spring Carnival," he said.

The boss of Racing NSW believes there is no competition as The Everest is designed for the younger generation, "Seventy-eight percent of the the twenty-two thousand presale tickets were for people under the age of thirty-five and they wouldn't know what a Group 1 is.

"Last year when we did [race on the same day as] the Caulfield Guineas their wagering turnover increased by twenty-five percent and their crowd increased thirty percent," V'landys said.

"We genuinely believe that both states having really strong meetings puts the focus right around Australia on racing."

Champion sprinter Redzel is aiming to win the Everest for a third straight time.

Hear The Everest live on Macquarie Sports Radio at 4:15 pm AEDT October 19.