Officially closing its 2016/17 racing season, The Hong Kong Jockey Club (HKGC) has reported record breaking turnover of HKD 11.7 billion ($15.6 billion), up 11% on season 2015/16 performance.
Updating stakeholders, HKJC reverses a 2% decline in wagering on Hong Kong races witnessed from the 2014/15 racing season to 2015/16
Detailing performance drivers, HKJC governance notes that its season turnover had been aided by a five-day increase in the number of race days. Furthermore, HKJC syndicated races have benefitted for more foreign jurisdictions being allowed to wager on its product.
HJKC governance detailed that wagering almost doubled to $850 million from $447 million reported during the 2015/16 season.
A pleased HKJC CEO Winfried Engelbrecht-Bresges would comment on the season’s performance “Our growth this year has been extraordinary. It has surprised me how strong it has been,”
“This time last year we weathered a small economic storm that impacted the region and resulted in a 2% dip in our overall turnover, our first decline in eight seasons. To come back from that with a new record of HK$117.456 billion for the season, up 10.7% on 2015-16, is a tremendous performance.”