Opened as recently as 2001, Limerick Racecourse is situated just outside the city and the modern facility is clearly visible from the N20 motorway. The racecourse is in use all year round but is best known for its summer evening meetings which feature live music after racing and the annual four-day Christmas festival which runs from St. Stephen's Day featuring the Faugheen Grade 1 Novice Chase. Its biggest 'stand-alone' meeting is the Munster National Day in mid-October which features the €100,000 Munster National Handicap Chase. On the Flat, the Listed Martin Molony Stakes in June is the most valuable race.