Hong Kong Jockey Club posts record annual turnover of HK$140bn
Total turnover on domestic and international horseracing climbs 3% year-on-year for the 12 months ended 30 June
The Hong Kong Jockey Club (HKJC) recorded a 3% year-on-year (YoY) rise in full-year turnover to HK$140bn (£14.9bn) for the 12 months ended 30 June 2022.
HKJC hosted 836 races and rebroadcasted 281 international races while dealing with numerous pandemic-related issues during the year, including the majority of races being run without spectators. This led to a betting duty of HK$14.1bn, a 2.8% increase YoY.
The overall turnover comes from local horseracing, which accounted for HKD$129.9bn, a 0.5% YoY increase. Turnover from international races was HKD$1.76bn, up 13% YoY.
HKJC also revealed that the revenue for the horseracing season finale, which was held on Saturday, reached HKD$2.04bn.
Royal Ascot was a particular success for the HKJC as the combined turnover on the meeting rose 13% YoY to HK$1.76bn.
The popularity of the World Pool and the Royal meeting saw records set almost daily, and the Commonwealth Cup Day meeting generated a record HK$383.6m.
Winfried Engelbrecht-Bresges, HKJC CEO, 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 a testament to the quality of our product and the support of our customers.
“To achieve these types of figures underpins the importance of horseracing to Hong Kong and its people. We are also delighted with the continued growth in popularity of our simulcasts with Hong Kong customers.”
Engelbrecht-Bresges also commended the work of all the parties involved and the aid bestowed on the HKJC during the height of the pandemic.
He continued: “I am extremely proud of the efforts of all involved that, with the trust of the Hong Kong Special Administrative Region Government in giving us permission to continue racing, we have again been able to complete a full season of world-class horseracing while at all times upholding the principle of protecting the health and safety of the public, our employees and stakeholders.
“As a club, we are again grateful and encouraged by the outstanding turnover, which ultimately allows us to contribute more for the betterment of our society.”