Hong Kong Jockey Club reports record full-year betting revenue
The club warned that illegal gambling and high betting taxes continue to put pressure on its licensed operations.
Hong Kong.- The Hong Kong Jockey Club (HKJC) has reported record full-year wagering and lottery turnover of HK$331.7bn (US$42.3bn). This generated HK$29.3bn (US$3.74bn) in betting duty and profits tax, representing 6.4 per cent of the total taxes collected by Hong Kong’s Inland Revenue Department during the 2025/26 assessment year.
The club said it contributed a record HK$39.3bn (US$5.01bn) to the community during the financial year ended June 30, 2026, despite operating in an increasingly challenging environment marked by the expansion of illegal gambling and regulatory pressures. The club contributed HK$1.4bn (US$178.5m) to the Lotteries Fund, while its Charities Trust approved HK$8.6bn (US$1.10bn) in donations.
Racing wagering turnover increased 3.6 per cent year-on-year to HK$143.3bn (US$18.27bn), generating gaming revenue of HK$19.9bn (US$2.54bn). Commingling remained a major growth driver, with wagering on Hong Kong racing from 26 countries and jurisdictions rising 9 per cent to HK$34.3bn (US$4.37bn), equivalent to 23.9 per cent of total racing wagering turnover. Simulcast turnover increased 21.4 per cent, while World Pool turnover rose 23 per cent.
Football betting turnover increased 3.6 per cent to HK$179bn (US$22.83bn), generating HK$22.6bn (US$2.88bn) in gaming revenue. The Club attributed the performance partly to new bet types, additional league competitions, the global football tournament and enhanced risk-management technology. HKJC paid HK$2.4bn (US$306m) in annual Special Football Betting Duty.
Mark Six turnover rose 4.2 per cent to HK$9.4bn (US$1.20bn), generating HK$4.3bn (US$548m) in gaming revenue. The lottery celebrated its 50th anniversary during the year.
The club noted that it continued to expand its racing infrastructure in mainland China. Conghua Racecourse in Guangzhou currently accommodates more than 600 horses and has helped the HKJC increase its horse count to more than 1,300.
The Guangzhou Conghua International Racing Development Centre is under construction and is expected to support international horse movements and contribute to the development of the mainland’s equine industry. However, the club said an event originally scheduled for October at Conghua Racecourse will be postponed following a recent risk assessment by relevant mainland authorities.
The club also highlighted the impact of the Hong Kong government’s decision to pause the authorisation of regulated basketball betting. It said it had already made substantial investments in preparation for the planned launch this year.
The HKJC said its racecourses welcomed a record 401,259 tourist visits during the 2025/26 season, up 105 per cent from the previous season and four times the level recorded in 2023/24. The Year of the Horse campaign included a club-sponsored fireworks display held over Victoria Harbour on February 18, followed by the Year of the Horse Raceday at Sha Tin, which attracted 98,000 spectators, including a single-day record of more than 20,000 visitors from mainland China and overseas.
HKJC community and philanthropic support
The club said it contributed more than HK$500m (US$63.8m) to support the Hong Kong and Guangdong competition regions at the 15th National Games. Meanwhile, its Charities Trust, described by the Club as the largest charity donor in Asia, approved HK$8.6bn (US$1.10bn) in donations for 191 charities and community projects. This included HK$1.7bn (US$217m) to establish a new public riding school in Tseung Kwan O.
The club contributed HK$3.2bn (US$408m) to the trust during the year. The amount comprised HK$1.1bn (US$140m), equivalent to 95 per cent of the Club’s operating surplus after tax, and HK$2.1bn (US$268m) from investment returns. The Club also donated HK$1bn (US$127.5m) to its Institute of Philanthropy.
Illegal gambling remains a major concern
The HKJC said illegal gambling enabled by digital platforms, cryptocurrency and social media, remains its most significant challenge. The club has launched its largest anti-illegal betting campaign to date, but argued that its licensed products face structural disadvantages. Racing betting is subject to a betting duty of up to 75 per cent, while football betting is taxed at 50 per cent of gross margin.
The Club also noted that Hong Kong currently permits licensed betting on only two sports: racing and football, while illegal operators can offer wagering on as many as 60 sports, including basketball. The HKJC said it respects the government’s decision to pause the basketball betting licence, but warned that the absence of a legal betting channel for basketball could allow the illegal market and its associated social and criminal risks to continue expanding.
At the AGM, Kenneth Fok Kai Kong was elected as a new Steward for a one-year term, replacing Nicholas D Hunsworth, who retired from the Board after reaching the age of 70. Lester G Huang, Bernard Charnwut Chan, Anita Fung Yuen Mei and Philip K W Lo were re-elected for three-year terms. Martin Liao was re-elected Chairman and Lester G Huang Deputy Chairman for 2026/27.
