Hong Kong Jockey Club’s Annual Sales Record

The Hong Kong Jockey Club reported total sales in the 12 months to the end of June at a record high of about $36.94 billion, with about 90% of the business reportedly coming from many online and mobile channels.

Hong Kong’s historic Happy Valley racetrack facility and the operator behind the development of a new sandy beach racetrack say it has not lost a single day of racing despite significant disruption related to the coronavirus pandemic, according to a report on Monday from Inside Asian Gaming. The Hong Kong Jockey Club, one of the oldest organisations in the former British enclave, is said to have a monopoly on all near-field horse racing in a small territory, with additional football-only sports betting services and the famous Mark Six lottery.

Significant contributions:

The source explained that racehorses are already the largest single taxpayer in Hong Kong and have exceeded a record $4.28 billion in the 12 months to the end of June, including about $3.43 billion in licensing taxes, revenue contributions and lottery fund contributions. The operator also reportedly explained that approved annual charitable contributions amounted to about $840.82 million, of which about $178.35 million goes to local programs specifically designed to combat the spread of the coronavirus pandemic.

Pony Partnership:

The Hong Kong Jockey Club reportedly said its 12-month horse racing sales rose 3.1% year-over-year to about $17.88 billion, although the temporary closure of many off-course betting shops led to a slight drop in local receipts. Still, the operator noted that related coming handles ultimately rose 11.1% year-over-year to $3.27 billion, accounting for 18.3% of its total business.

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