A prize dispensing hook assembly is provided for retaining a prize suspended from a base of a prize dispenser and releasing the prize therefrom at a predetermined release location. The hook assembly includes a hook structure mounted on the base for movement relative thereto. The hook structure is engageable with the prize in a prize retaining position and is disengagable from the prize in a prize releasing position corresponding to the predetermined release location. The biasing arrangement is continuously engaged with both the base and the hook structure, and provides a biasing force continuously urging an open of the hook structure into direct engagement with the base. An actuator arrangement is mounted within the prize dispenser and is provided with a movable release element which is selectively engageable with the hook structure to move the hook structure to the prize releasing position.