{"id":777006531,"date":"2023-06-22T06:46:49","date_gmt":"2023-06-22T09:46:49","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777006531"},"modified":"2026-04-22T20:46:10","modified_gmt":"2026-04-22T23:46:10","slug":"hkjc-to-pay-us306m-a-year-in-new-football-betting-tax","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/hkjc-to-pay-us306m-a-year-in-new-football-betting-tax","title":{"rendered":"HKJC to pay US$306m a year in new football betting tax"},"content":{"rendered":"\n

Hong Kong’s government has passed a bill to impose a new football betting tax on the Hong Kong Jockey Club.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- The Legislative Council has passed a bill mandating the Hong Kong Jockey Club (HKJC) to pay an extra HK$12bn in taxes on its football betting earnings over the next five years. The move aims to bolster the government’s financial resources<\/a>, despite initial objections raised by the club. <\/p>\n\n\n\n

Secretary for Financial Services and the Treasury, Christopher Hui<\/strong>, said the new levy of HK$2.4bn (US$306m) a year would not impact the club’s philanthropic efforts. He said the Special Football Betting Duty (SFBD) took into account various factors, including affordability and external competition faced by the local football betting industry.<\/p>\n\n\n\n

The tax measure was proposed by the New People\u2019s Party (NPP) in January. The HKJC had opposed it<\/a>, arguing that its horse-racing duty rates already ranked among the highest globally, ranging from 72 to 75 per cent. It warned the proposal could deeply damage its business model<\/strong> and Hong Kong\u2019s global reputation as a racing jurisdiction.<\/p>\n\n\n\n

However, Regina Ip <\/strong>of the New People’s Party downplayed the HK$2.4bn tax in comparison to the club’s investment returns. Tommy Cheung Yu-yan<\/strong>, chairman of the Liberal Party, has suggested extending the betting duty to other sports like basketball.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong’s government has passed a bill to impose a new football betting tax on the Hong Kong Jockey Club.<\/p>\n","protected":false},"author":176,"featured_media":8981,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Hong Kong government has passed a bill to impose an additional HK$12bn football betting tax on the Hong Kong Jockey Club (HKJC) over the next five years, equating to HK$2.4bn annually. Despite HKJC's objections regarding its high existing horse-racing duty rates and potential business model damage, the government asserts the levy will bolster financial resources without impacting philanthropic efforts.","focusai_entities":"Hong Kong Jockey Club, Christopher Hui, New People\u2019s Party, Regina Ip, Tommy Cheung Yu-yan, Liberal Party","focusai_location":"Hong Kong","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), journalist_researcher (0.8)","focusai_suggestions":[{"label":"HKJC Financial Impact?","query":"What is the projected impact of the HK$2.4bn annual Special Football Betting Duty on the Hong Kong Jockey Club's Net Gaming Revenue (NGR) and its capacity for capital expenditure or philanthropic contributions?"},{"label":"Regulatory Precedent?","query":"Does the imposition of this new football betting tax signal a broader governmental strategy to increase revenue extraction from other gaming verticals or licensed operators within Hong Kong or similar jurisdictions?"}],"footnotes":""},"categories":[16338,154,158],"tags":[22317,233],"class_list":["post-777006531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-legislation-news","category-slider-home","tag-hong-kong-jockey-club","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777006531"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006531\/revisions"}],"predecessor-version":[{"id":777006567,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006531\/revisions\/777006567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8981"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}