The festival is one of the biggest events in the UK racing calendar, spanning two days on 26 and 27 December.

The races will be renamed in light of the new sponsorship agreement, now featuring the £250,000 Ladbrokes King George VI Chase, the £130,000 Ladbrokes Christmas Hurdle and the £100,00 Ladbrokes Desert Orchid Chase.

The agreement will be Ladbrokes’ most significant horseracing partnership, taking over sponsorship from rival operator 32Red.

Simon Clare, Ladbrokes Coral PR Director, said: "Ladbrokes has a long and proud history of sponsoring top-class horseracing, and we are absolutely thrilled to be embarking on this new sponsorship of the King George VI Chase and the two-day Christmas Festival at Kempton Park.

"There are few races that can boast the heritage and prestige of the Ladbrokes King George VI Chase and it is always one of the top-ten betting races in the year, making it a perfect fit for Ladbrokes."