Hong Kong Jockey Club ends 2022/23 season with record turnover

Turnover reached a new record for the third consecutive season.
Turnover reached a new record for the third consecutive season.

HK$141.1bn (US$108.6bn) was wagered during the 2022-23 campaign.

Hong Kong.- The Hong Kong Jockey Club (HKJC) has closed out the season’s 88th and final meeting, including seven Twilight fixtures. The season’s 835 Hong Kong races and 299 overseas simulcast races generated turnover of HK$141.1bn (US$108.6bn), up 0.5 per cent when compared to the 2021/22 season

The turnover for the final meeting reached HK$2.065bn (US$1.59bn), an increase of 1.3 per cent year-on-year. Both figures are record highs since the establishment of the HKSAR in 1997. The season saw the full return of Hong Kong racing to normalcy after the Covid-19 pandemic. 

Simulcasts of overseas races gained popularity, contributing a 12.5 per cent growth in turnover at over HK$11.8bn. The majority of bets came from Hong Kong customers (HK$10.5bn), the World Pool witnessed a 23.2 per cent increase from overseas customers and partners to HK$1.3bn.

The turnover of all simulcast races under the World Pool brand, encompassing both local and international customers, rose 18.5 per cent from HK$6.2bn in the 2021/22 season to HK$7.3bn. This season featured an expanded 24-day World Pool event with LONGINES Top 100 Group 1 races and broadened partnerships with Australia, Saudi Arabia, and Germany.

Chief executive, Winfried Engelbrecht-Bresges said “Under such a challenging economic situation, our overall season racing turnover of HK$141.1bn is very satisfactory. The strength of the turnover reflects the quality of our products and the on-going support of our customers. However, we will stay vigilant as there will be significant challenges from offshore bookmakers following the reopening of borders and also illegal bookmakers. 

“To ensure our racing will stay competitive and maintain its world-class status, we will re-invest in racecourse assets and enhance customer experience. We will also grasp the unique development opportunity in the GBA under the ‘One Country Two Systems’ principle. After all, the Club is acting for the betterment of society. All we do is to contribute more to our community with a strategic focus that best meets the needs of Hong Kong people.”

See also: HKJC and Guangdong to strengthen cooperation to promote sports

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Hong Kong Jockey Club