{"id":8195,"date":"2020-07-16T22:18:22","date_gmt":"2020-07-16T22:18:22","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=8195"},"modified":"2026-04-24T03:34:26","modified_gmt":"2026-04-24T06:34:26","slug":"hkjc-revenue-barely-dented-by-pandemic","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/hkjc-revenue-barely-dented-by-pandemic","title":{"rendered":"HKJC revenue barely dented by pandemic"},"content":{"rendered":"\n

An impressive 2019 – 2020 season ended with record single day turnover of HK$1.6 billion (\u00a3160 million) on the closing day at Happy Valley.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- The Hong Kong Jockey Club (HKJC) has reported 2019 – 2020 financial results showing it had the third best-season in its history.<\/p>\n\n\n\n

Annual racing turnover dropped by only 2.6 per cent from the previous season despite branch closures and reduced traffic<\/a><\/em><\/strong> as a result of Covid-19.<\/p>\n\n\n\n

HKJC CEO Winfried Engelbrecht-Bresges said: \u201cWe are pleased to have been able to complete a full season but of course our prime focus throughout, and a real challenge, was to act responsibly to protect the public health and safety of our staff, customers and the wider community, at every turn, while at the same time balancing that with the desire for our sport to continue.\u201d<\/p>\n\n\n\n

This season\u2019s finale at the Happy Valley race course on Wednesday saw record turnover for a single fixture of HK$1.6 billion (US$260 million).<\/p>\n\n\n\n

In spite the Covid-19 pandemic, the HKJC<\/em><\/strong> reported racing revenue for the season at HK$121.6 billion (US$15.68 billion). <\/p>\n\n\n\n

The club said it paid HK$12.11 billion (US$1.56 billion) in taxes.<\/p>\n\n\n\n

Local racing took a larger hit with turnover down 8.2 per cent on the previous season, while simulcast turnover from domestic clients betting on overseas events grew by 12.9 per cent year-on-year, to HK$4.7 billion (US$606 million).<\/p>\n\n\n\n

Commingling turnover for the HKJC reached HK$23.58 billion (US$3.04 billion), a 25.3 per cent rise on the previous season.<\/p>\n\n\n\n

The HKJC said in a statement that becasue branches shut in February and races returned after lockdown without public, this had led more customers to gamble through online channels.<\/p>\n\n\n\n

Now HKJC is looking into expanding its World Pool concept to propel international growth. The unit pools gamblers from countries such as Australia, the US, Canada, Singapore and Europe.<\/p>\n\n\n\n

Branches will temporarily close again as of Sunday (July 19) as Hong Kong tightens measures<\/a><\/em><\/strong> to prevent Covid-19.<\/p>\n","protected":false},"excerpt":{"rendered":"

An impressive 2019 – 2020 season ended with record single day turnover of HK$1.6 billion (\u00a3160 million) on the closing day at Happy Valley.<\/p>\n","protected":false},"author":2,"featured_media":0,"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 reported robust 2019-2020 financial results, achieving HK$121.6 billion in racing revenue despite a 2.6% decline in overall racing turnover attributed to COVID-19 branch closures. The pandemic significantly accelerated the shift to online channels, driving a 25.3% increase in commingling turnover and a record single-day turnover of HK$1.6 billion, prompting HKJC to prioritize the expansion of its international \"World Pool\" concept.","focusai_entities":"Hong Kong Jockey Club, Winfried Engelbrecht-Bresges","focusai_location":"Hong Kong, Happy Valley, Australia, US, Canada, Singapore, Europe","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.8), operator_casino (0.9), product_ux (0.7), tech_data (0.8), marketing_crm (0.7), payments_fraud_aml (0.8), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"World Pool Expansion","query":"What specific regulatory and technological hurdles must HKJC navigate to significantly scale its World Pool concept across diverse international jurisdictions, and what is the projected NGR impact and market share gain from this expansion?"},{"label":"Post-Pandemic Channel Mix","query":"How does HKJC anticipate the long-term channel mix between retail and online will stabilize post-pandemic, and what capital expenditure and operational strategies are planned for digital infrastructure to sustain this accelerated shift?"}],"footnotes":""},"categories":[16338,163],"tags":[1619,22317],"class_list":["post-8195","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-finance-news","tag-hong-kong","tag-hong-kong-jockey-club"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8195","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8195"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8195\/revisions"}],"predecessor-version":[{"id":777013978,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8195\/revisions\/777013978"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}