- Flexi Group
Hong Kong betting growth continues as HJKC reports record turnover
The Hong Kong Jockey Club (HKJC) has detailed progress on its ‘important strategy’ of boosting the global visibility of the region’s racing scene.
Issuing an update on seasonal developments, the Hong Kong racing authority outlined turnover for the 2021/22 season increasing by 3% year-on-year to HK$140bn, with local race turnover standing at HK$129.9bn.
In the case of the latter, this represented an increase of 0.5% on the previous season, and the HKJC has praised the ‘immense quality and appeal’ of the racing product to its customers.
Domestically, Hong Kong racing showed immense quality and appeal with our customers continually showing tremendous support for our product, which is built around quality horses and outstanding trainers and jockeys.
HKJC CEO, Winfried Engelbrecht-Bresges, said: “Given the circumstances confronting the club, our overall season racing turnover of HK$140 billion represents a wonderful achievement. The growth in turnover is testament to the quality of our product and the support of our customers.
“To achieve these types of figures underpins the importance of horse racing to Hong Kong and its people. We are also delighted with the continued growth in popularity of our simulcasts with Hong Kong customers.”
Additionally, betting duty rose by 2.8% to reach a total of HK$14.1bn, whilst the total turnover for the season finale meeting stood at HK$2.039bn.
Internationally, the HKJC has stated that the strategy of ‘showcasing Hong Kong racing globally’ is progressing well. In particular, the group has highlighted continued positive results for its World Pool sumuluast, as well as attraction of overseas ‘world-class talent’ in tandem with development of home grown participants.
For the World Pool simulcast, Royal Ascot 2022 was highlighted as an ‘outstanding success’ for the HKJC – reporting a combined turnover of HK$1764.5m, rising by 13%, and having been expanded across 21 days with its partners in the UK, Ireland, South Africa and the UAE.
The club further claimed that ‘records were set almost on a daily basis’, generating $383.6m on the Commonwealth Cup Day. Meanwhile, turnover on the World Pool increased by 82% to $2777m, whilst the ‘commingled component’ rose by $404m, a growth rate of 60%.
This follows on from the announcement that the HKJC would offer a record total of $1.62bn in prize money across the 2022/23 reason, also increasing prize funds across middle-races and implementing a new bonus system.
Engelbrecht-Bresges continued: “The club is proud to live up to the commitment of betterment of Hong Kong society through racing betting duty and charitable contributions.
“With this outstanding performance of the season, we are able to do more for our community with a strategic focus that best meets the needs of Hong Kong people.”