The Hong Kong Jockey Club has reported a 4.5% decrease in total racing wagering turnover for the 2023/24 racing season to HK$134.7 billion (US$17.3 billion), impacted by what it describes as a challenging economic situation.
However, the season ended on a high with Sunday’s final 11-race meet at Sha Tin resulting in the highest turnover of any race meeting in Hong Kong for the entire season with a total of HK$1.87 billion (US$240 million) wagered.
HKJC also lauded its strategy to expand its customer base globally, with Hong Kong races attracting record commingling turnover of HK$28.8 billion (US$3.69 billion), a 13.7% increase on the 2022/23 season.
The 2023/24 season comprised 88 race meetings, including seven twilight fixtures, a total of 831 Hong Kong races and 368 overseas simulcast races.
“Under such a challenging economic situation, our overall season racing turnover is satisfactory,” said HKJC CEO Winfried Engelbrecht-Bresges.
“While the Club will continue to grow and expand its overseas customer base, the decline in local racing wagering turnover underlines that it must constantly engage and re-engage with Hong Kong racing fans.”
According to HKJC, 26 countries and more than 70 partners are now commingling on Hong Kong racing, including Malaysia for the first time. Overall turnover on simulcasting (including World Pool commingling) for the season was up by 8.7% to HK$12.8 billion (US$1.64 billion).
The number of World Pool races also increased from 175 to 258, with 83 races added – the highlight being the expansion of the World Pool to Australia. World Pool turnover was up by 57.1% on last season, HKJC said.
The 2024/25 racing season is due to start in September.
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