HKJC turnover jumps 5.1% on back of gains for football and lottery arms

The Hong Kong Jockey Club (HKJC) has reported a 5.1% increase in full-year turnover to HK$304.8bn (£31bn) following jumps in its football and Mark Six lottery verticals.

The Asian operator revealed total racing turnover for the 12 months to 30 June 2023 remained flat with a 0.5% uptick to HK$141.1bn.

HKJC confirmed commingling on Hong Kong horseracing was up 3% to HK$25.4bn, comprising 19.6% of total racing turnover.

Additionally, total turnover on simulcasting and the World Pool was up 12.5% to account for 8.4% of total racing turnover.

Elsewhere, football turnover jumped 9.1% to HK$156.9bn, with the operator noting the first-ever winter World Cup in 2022 and improvements to its betting market offering and technology.

HKJC did confirmed that income from football remained flat at HK$9.8bn due to the increased taxation from the special football betting duty of HK$2.4bn.

The Mark Six lottery arm saw turnover increased 29.2% to HK$7.5bn on the back of the vertical returning to three draws a week.

As a result of the increase in turnover, HKJC was able to contribute a record HK$35.9bn to community funds, comprising HK$28.6bn in duties and taxes and HK$7.3bn in approved charity donations.

Winfried Engelbrecht-Bresges, HKJC CEO, said: “Through resilience and agility, the club performed extremely well during the pandemic. However, there is no question that the post-pandemic environment is proving equally challenging, with the economy likely to be highly volatile for some time to come.

“In these circumstances, the club’s exceptional performance last year was only possible because of its strategy to develop world-class racing and to export it overseas via commingling as well as through the creation of the World Pool.

“Together with the strong performance of football betting, this enabled the club to contribute a record HK$35.9bn to the community,” he added.