HK Jockey Club appoints new executive director for wagering products

Michael Fitzsimons has been promoted to the position with effect from September 1.

Hong Kong.- The Hong Kong Jockey Club (HKJC) has appointed Michael Fitzsimons as executive director for wagering products. The HKJC said Fitzsimons will lead and drive the club’s wagering business, with responsibility for horse racing and football wagering and the Mark 6 lottery. 

He will also lead the international commingling business and China Sports Lottery cooperation development.

In February 2021, Fitzsimons was appointed director of trading, overseeing the Football Trading Department and contributing to the growth of the Club’s sports betting division. He worked in the sports betting industry for 20 years before joining the HKJC, with managerial and trading roles in betting companies and syndicates in several countries.

The HKJC said: “With his extensive knowledge of sports betting and the application of artificial intelligence to trading, Mr Fitzsimons will help sustain the growth and development of the Club’s wagering business.”

HK Jockey Club posts record turnover for the 2021/22 season

The HKJC posted a turnover of HK$140bn (US$17.8bn) in its financial results for the 2021/22 season. That figure represents a rise of 3 per cent when compared to the previous season, despite the ongoing challenges due to the Covid-19 pandemic. Several races were held without an audience due to countermeasures.

There were 836 horse races held domestically and 281 races broadcast internationally at the HKJC. The local horse racing industry generated HK$129.9bn (US$16.5bn) in revenue and the international race broadcasting industry generated HK$1.76bn (US$224m). These figures represent a growth of 0.5 per cent for local horse racing and 13 per cent for international.