HKJC reports record turnover of US$17.5bn for 2020/21
The Hong Kong Jockey Club (HKJC) has posted an all-time turnover record of HK$136bn (US$17.5bn) for the 2020/21 racing season.
The season came to a close with its 88th meeting on Wednesday evening, one more than last season, with revenue reaching over HK$130bn for the first time. The figure is a 12% increase from the 2019/20 season. Betting duty meanwhile reached HK$13.7bn, a 14% increase from last season.
The latest season hosted a record 835 races and simulcast 206 overseas races.
“With effective strategies and relentless effort across the organisation, the Hong Kong Jockey Club has continued to manage the global Covid-19 pandemic decisively, implementing the world’s best health protocols that have protected the welfare of its employees, racing participants and the public, allowing the sport to continue while many other sports – at home and abroad – are deeply affected,” a statement from the HKJC read.
Local races turnover totalled HK$129.3bn, an 11% increase from last season, with simulcast races reaching HK$7bn, a 38% increase from last season.
Created by the HKJC and launched at Royal Ascot in 2019, the World Pool has also grown. The Dubai World Cup initially set a turnover record of HK$332m, only to be surpassed by the Royal Ascot King’s Stand Day at HK$340m.
“We are delighted to have been able to again complete a full season with a clear focus of ensuring racing to continue while upholding the principle of protecting the public health and safety of our employees, stakeholders and the public,” said HKJC CEO Winfried Engelbrecht-Bresges.
“The remarkable season turnover has enabled us to contribute more for the betterment of our society.
“The collective discipline of all participants – trainers, jockeys, owners, employees and customers – has been especially heartening in these trying times. In that sense, nothing about this wonderful display of Hong Kong’s enterprising spirit and ‘can-do’ attitude is surprising.”
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