HKJC posts turnover of US$17.3bn for 2023/24 season

The Hong Kong Jockey Club’s turnover declined 4.5 per cent when compared to the previous season.

Hong Kong.- The Hong Kong Jockey Club (HKJC) has posted a turnover of HK$134.7bn (US$17.3bn) in its financial results for the 2023/24 season. That represents a decline of 4.5 per cent when compared to the previous season.

The HKJC hosted 88 race meetings in the season, comprising 831 Hong Kong races and 368 overseas simulcast races. There were seven twilight fixtures.

The Club said its global customer expansion strategy helped to partially offset the local downturn. Hong Kong races saw a record commingling turnover of HK28.8bn, a 13.7 per cent increase over the 2022/23 season. Simulcasts of overseas races, including World Pool commingling, were up by 8.7 per cent to HK$12.8bn.

The season saw an increase in the number of World Pool races from 175 to 258, including the expansion of the World Pool to Australia. The turnover of World Pool increased by 57.1 per cent compared to last season.

Chief executive, Winfried Engelbrecht-Bresges said: “We had the best-ever season finale, we want to position racing as a world-class entertainment and sporting event. We couldn’t have planned a better season finale than today when the on-course atmosphere and response from our 30,000 racing fans, which include a record number of over 6,000 Mainland visitors, was amazing.

“In the upcoming season, the Club will invest HK$140m to lower livery fees and extend additional financial support for the export of retired horses. In addition, under the Racecourse Master Plan, we have started to refurbish the stables at Sha Tin. I am confident that these measures will encourage owners to bring in more top-class horses to sustain and grow our horse population.

“Under such a challenging economic situation, our overall season racing turnover is satisfactory. While the Club will continue to grow and expand its overseas customer base, the decline in local racing wagering turnover underlines that it must constantly engage and re-engage with Hong Kong racing fans.”

See also: HKJC and Volleyball Nations League Hong Kong launch community programme