Hong Kong Season Concludes With Gains

[Wandering Eyes]

The 2017/18 Hong Kong racing season ended on Sunday with overall turnover of HK$124.2 billion, up 5.8% from the 2016/17 season. On the final day of the season which was attended by 31,903 people, Sunday’s turnover was HK$1.938 billion, the highest ever for an 11-race card, with commingling a new record at HK$335 million.

Mr. Winfried Engelbrecht-Bresges, Chief Executive Officer at the Hong Kong Jockey Club, said:,”We are delighted with another record season, one of our most exciting seasons both on and off the track. As well as great sport today, we also had record turnover for an 11-race meeting, despite receiving 35 millimetres of rain, and that shows the enthusiasm for our product. Our total gross margin of HK$5.48 billion is an increase of 6.3%. Our contribution as Hong Kong’s biggest taxpayer once again topped HK$13 billion for the second time, demonstrating the importance of racing to the Hong Kong community.”

One of the biggest areas of growth was due to the HKJC’s position as a global commingling hub, which saw total wagering with commingling partners reach HK$16.5 billion, up 154.8% compared to last year’s figures. Simulcasting turnover also increased, with Hong Kong bettors wagering HK$3.94 billion on races from abroad, an increase of 12% on the previous season.

“Commingling is quickly changing the global landscape and that is seen in the fact that it made up 13.3% of our season’s turnover this year compared to 5.5% last year,” Engelbrecht-Bresges said. “This trend comes at a time when our customers are showing a greater appreciation for international racing. The time is right for us to launch our World Pool concept, beginning with Royal Ascot next year, which will offer a strong value proposition to customers in the UK and Hong Kong, and further strengthen our position as the international hub of commingling.”

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