The Chief Executive Officer of The Hong Kong Jockey Club has warned of the growing danger of illegal betting markets to the racing industry during an address to peers in Melbourne.
Providing the opening address at the 39th Asian Racing Conference in Melbourne, Australia on Wednesday, Winfried Engelbrecht-Bresges – who is also Chairman of the Asian Racing Federation, said the industry faced a number of important challenges moving forward with collaboration required to overcome the scourge of illegal gambling.
“Racing faces significant global challenges going forward which, in my view, cannot be solved without fundamental changes and strengthening of collaboration and joint efforts to address these challenges,” Engelbrecht-Bresges said.
The long-term HKJC boss said the illegal and off-shore betting operators represented one of nine key challenges the industry faces moving forward, the others being industry fragmentation, integrity, social acceptability, competition from other sports, an ageing customer base and engaging Gen Y & Z, branding racing as a global sport, sustainability and human resources.
“Most of the challenges we face can only be solved when we work together in a more strategic way and overcome the fragmented way of how racing is run, being at national, regional and global levels,” he said.
While expressing concern over whether racing can move on to solve its structural problems and find strategic solutions to ensure its long-term viability, he also expressed confidence in the industry’s resilience in the face of the COVID-19 pandemic.
Also speaking during Wednesday’s conference sessions were, among others, ARF Vice-Chairman and President and CEO of the Japan Racing Association, Masayuki Goto; Chief Executive of the British Horseracing Authority, Julie Harrington; Chairman of the Australian Turf Club, Peter McGauran; Racing Victoria CEO, Andrew Jones; and Australian Turf Club CEO, Tim Bulley.
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