Hong Kong Jockey Club reports 28% turnover increase on last year

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    Hong Kong Jockey Club reports 28% turnover increase on last year

    The Hong Kong Jockey Club (HKJC) has reported a 28% year-on-year increase in turnover for horse racing betting, to HK$279.7bn ($36bn).

    Its last two annual reports list turnover of HK$218.7bn for 2020 and HK$247.5bn for 2019.

    According to its report, out of the HK$279.7bn, HK$136.1bn came from horse betting, HK$140.2bn came from football betting and HK$3.4bn from Mark Six Lottery.

    In total, 85% of the amounts bet locally are returned as dividends, rebates and lottery prizes (meaning HK$112.9bn came from local customers who wagered on horse betting); and 77% of the Club’s betting and lottery revenue is returned to Hong Kong in the form of tax contribution, donations and lotteries fund contributions, on top of creating employment (20,335 full-time and part-time jobs).

    Part of the reason behind this year’s increase is the Government’s decision to increase the number of simulcast days from 23 to 37 per year, and the long-term investments in online and mobile technology (thanks to which, 90% of this year’s turnover came via online and mobile channels).

    Additionally, thanks to controlled access to racecourses based on strict risk assessments, hygiene measures and meticulous testing, not one single race day was cancelled and HKJC was able to race throughout the pandemic.

    Winfried Engelbrecht-Bresges, Chief Executive for HKJC, said: “We are delighted to have been able to again complete a full season with a clear focus of ensuring racing to continue while upholding the principle of protecting the public health and safety of our employees, stakeholders and the public.”