The Hong Kong Jockey Club (HKJC) has reported an 11.6% decline in turnover to HK$218.8bn (US$28.2 billion) for the year ended 30 June 2020, with the group revealing that its figures during the COVID-19 period suffered due to low returns from both football and the Mark Six lottery.
In terms of racing itself, turnover fell just 3.2% for the year to HK$121 billion (US$15.6 billion), with the jockey club noting that it had managed to navigate COVID-19 without missing a single race all season.
The HKJC revealed that it had done this ‘with the full support of the Government and by implementing stringent health measures, including strict attendance limits at racecourses.’
A statement released by the group read: “The club’s success, when much of global sport and racing was shut down, earned accolades around the world. It also enabled the club to provide valuable stay-at-home-entertainment at a time when residents were being urged to avoid public gatherings.”
With this being said the impacts felt by the decline in football betting and in the Mark Six lottery further hindered the group’s results, with football betting turnover being dealt a 18.8% blow to HK$92.6 billion (US$11.9 billion), while Mark Six turnover fell 39% to HK$5.1 billion (US$658 million).
HKJC Chairman, Philip Chen, commented: “Ultimately everything comes back to the club’s purpose – the betterment of our society – which must, and will, remain the same. We will continue to enhance our much-admired position by doing the right things and doing them right. We will strive hard to improve our business results so that we can maintain our charity donations.”