Special Football Betting Duty<\/a>\u00a0of HK$12bn payable over five years, with HK$0.6bn being paid in the 2022\/23 financial year.<\/p>\n\n\n\nRevenue from the Mark Six lottery,\u00a0which returned to three draws per week, was up 29.2 per cent to HK$7.5bn.<\/p>\n\n\n\n
The HKJC contributed HK$35.9bn to the community: HK$28.6bn in betting duty, profits tax and Lotteries Fund contributions, along with HK$7.3bn in approved charity donations.<\/p>\n\n\n\n
HKJC chairman Michael Lee<\/strong> said, \u201cI would like to express my sincere thanks to the racing community, to our members, to the HKSAR Government, to Mainland authorities, to the club\u2019s management and employees, and most especially to our customers. Through your support, Hong Kong racing is an example to the world of the strength and resilience of our city.\u201d <\/p>\n\n\n\nHKJC CEO Winfried Engelbrecht-Bresges <\/strong>added, \u201cThrough resilience and agility, the club performed extremely well during the pandemic. However, there is no question that the post-pandemic environment is proving equally challenging, with the economy likely to be highly volatile for some time to come. <\/p>\n\n\n\n“In these circumstances, the club\u2019s exceptional performance last year was only possible because of its strategy to develop world-class racing and to export it overseas via commingling as well as through the creation of the World Pool. Together with the strong performance of football betting, this enabled the Club to contribute a record HK$35.9bn to the community.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"
Racing turnover for the 2022\/23 racing season was up 0.5 per cent.<\/p>\n","protected":false},"author":176,"featured_media":20088,"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 Jockey Club (HKJC) reported a record HK$304.8bn turnover for FY2022\/23, driven by robust football betting and Mark Six lottery performance, alongside growth in overseas racing commingling. Despite a slight decline in local racing turnover, the club's strategic focus on international expansion and new wagering systems enabled a significant HK$35.9bn contribution to the community, even amidst increased taxation and a volatile post-pandemic economic environment.","focusai_entities":"Hong Kong Jockey Club, HKJC, Michael Lee, Winfried Engelbrecht-Bresges","focusai_location":"Hong Kong","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.75), operator_casino (0.9), product_ux (0.7), tech_data (0.85), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Commingling Growth Drivers","query":"What specific market expansion strategies and technological integrations underpinned the 3% growth in commingling revenue for Hong Kong racing, and what is the projected CAGR for this vertical?"},{"label":"Impact of Special Duty","query":"How will the HK$12bn Special Football Betting Duty, payable over five years, impact the HKJC's net profit margins and future investment capacity, particularly in light of flat football betting income despite turnover growth?"}],"footnotes":""},"categories":[16338,163],"tags":[22317],"class_list":["post-777008987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-hong-kong-jockey-club"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008987","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=777008987"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008987\/revisions"}],"predecessor-version":[{"id":777009022,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008987\/revisions\/777009022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20088"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777008987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777008987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777008987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}