Regal Monarch, the four-year-old gelding which was involved in a horror fall in the fourth race on Melbourne Cup day at Flemington, has died.
Racing Victoria's head vet Dr Grace Forbes told racing.com that the Chris Waller-trained galloper died despite a medical team's best efforts.
"Regal Monarch was immediately attended to by our veterinary team after a fall in race four and was transported to the University of Melbourne Veterinary Clinic in Werribee for further assessment," Forbes said.
"It is with sadness that we can confirm that the horse has been humanely euthanised on veterinary advice, as a result of the injuries sustained. This decision was made in the best interests of the horse."
Animal welfare groups pointed to the incident as evidence of cruelty in racing.
However Forbes pointed out that "incidents such as this happen infrequently, with Victoria having one of the best safety records in world racing".
WARNING: FOOTAGE OF THE FALL IS BELOW
Top jockey Joao Moreira, who fell from Regal Monarch, was bruised but unhurt and did not require a hospitalisation.
Moreira is a top Brazilian jockey based in Hong Kong, who rode Heartbreak City to the narrowest of second placings in the 2016 Melbourne Cup.
He was booked for strongly fancied international runner Thomas Hobson in the Melbourne Cup, but was unable to ride, and was replaced by local jockey Ben Allen, who is just 18.
Moreira, known as the "Magic Man" for his sublime riding ability, has flown back to Hong Kong with fellow Hong Kong-based rider, Zac Purton, the Aussie who steered Max Dynamite to third place in Tuesday's Melbourne Cup.
This story has been updated to include the death of Regal Monarch.