HK Jockey Club posts record turnover of US$$17.8bn for 2021/22 season

The Hong Kong Jockey Club’s revenue grew 3 per cent when compared to the previous season.

Hong Kong.- The Hong Kong Jockey Club (HKJC) has posted 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.

The HKJC hosted 836 horse races domestically and broadcast 281 horse races from overseas. Revenue totalled HK$129.9bn (US$16.5bn) from local horse racing and HK$1.76bn (US$224m) from international race broadcasts. These figures represent growth of 0.5 per cent for local horse racing and 13 per cent for international.

According to the Hong Kong Jockey Club, the race season finale, which took place on July 16, grossed HK$2.04bn (US$260m). Betting taxes for the year amounted to HK$14.1bn (US$1.8bn), up 2.8 per cent when compared to the previous fiscal year. 

In April, the HKJC had raised racetrack prize money and incentives to an all-time high of HK$1.6bn (US$206.5m) to stay ahead of rival racetracks. Chief executive, Winfried Engelbrecht-Bresges said an increase in horses was necessary due to greater competition to source quality horses, particularly in Australia and the Gulf region.