The Special Administrative Region government is going to be granting the Hong Kong Jockey Club (HKJC) rights to conduct betting on more non-local race days – expected to pull in some HK$279 million ($35.66 million) in revenues.
According to The Standard, the HKJC, starting in December, will be able to increase the days of betting on so-called ‘simulcast race’ days.
The move increases the maximum number of simulcast races per year from 10 to 25, with a maximum of races per simulcast day raced to 12 from nine.
Currently, the HKJC can only allow betting on 88 local race days, 10 non-local races which coincide with local race days (simulcast races), and 37 simulcasts on non-local race days (simulcast days), per year, notes the publication.
It notes that HKJC’s approval to increase the simulcast day cap in 2021 resulted in less visitors to illegal horse racing websites. The Hong Kong Jockey Club recorded some $38.87 billion in turnover, with $13.31 billion from horse racing, resulting in $2.47 billion in revenue from the segment during the financial year ended June 30th.
