Hong Kong’s Jockey Club (HKJC) posted an all-time record turnover of HK$136 billion ($17.5 billion) for the 2020/21 season.
The season came to an end with its 88th meeting on Wednesday night, one more than last season, with revenue of over HK$130 billion for the first time.
The value is a 12% increase over the 2019/20 season. The betting rate reached HK$13.7 billion, a 14% increase over last season.
“With effective strategies and relentless effort across the organization, the Hong Kong Jockey Club continued to manage the Covid-19 global pandemic decisively, implementing the world’s best health protocols that protected the well-being of its employees participating in racing and the public, allowing the sport to continue while many other sports – at home and abroad – were deeply affected,” read a statement from the HKJC.
Revenue from local races totaled HK$129.3 billion, an increase of 11% over last season, with simulated races reaching HK$7 billion, an increase of 38% over last season.
Created by HKJC and launched at Royal Ascot in 2019, the World Pool has grown too. The Dubai World Cup initially set a revenue record of HK$332 million, to be surpassed only by Royal Ascot King’s Stand Day at HK$340 million.
Winfried Engelbrecht-Bresges, CEO of HKJC, gave the following statement:
We are delighted to have once again managed to complete a season with the clear aim of ensuring that the races continue, upholding the principle of protecting public health, the safety of our employees and our stakeholders.
The season’s remarkable turnover allowed us to contribute more to the betterment of our society.
The collective discipline of all participants – instructors, jockeys, owners, employees and customers – has been especially encouraging in these difficult times. In that sense, nothing about this wonderful display of Hong Kong’s entrepreneurial spirit and ‘can-do’ attitude is surprising.
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