Hong Kong Jockey Club hails annual results
News on 6 Sep 2016
News on 6 Sep 2016
The Hong Kong Jockey Club (HKJC) delivered a sterling set of annual results despite the economic downturn.
During the 12 month period, ending June 30 2016, the HKJC generated overall turnover of HK$ 202.70 billion, an increase of 6 percent which contributed HK$20.91 billion in duty and profits tax to the Hong Kong Government, and a further contribution of HK$1.28 billion was made to the Lotteries Fund. Reaching an all-time-high, Charitable contributions amounted to HK$3.90 billion. In total, the Club’s total direct return to the community increased 4 percent to HK$26.09 billion.
“This substantial increase in commitments has been accompanied by an equally significant transformation in the way we address community needs,” Dr Ip, chairman of the HKJC said. “The Charities Trust now actively collaborates with all sectors of the community, creating opportunities for, and more importantly encouraging, multi-sector participation. Our objective is to maximise available resources in our community and optimise outcomes.”
The Club attributed its success to both the quality of its world-class racing, the strong performance of its responsible wagering and lottery services and a customer-centric approach.
Racing turnover for the financial year reached HK$107 billion, up 1.8 percent, football turnover was up 10.9 percent to HK$86.80 billion and the HKJC Mark Six lottery business recorded a 9.9 percent increase to HK$8.55 billion.
“Also fundamental to the Club’s customer-centric approach is the development of new digital products to meet customer demand for speed, convenience and connectivity,” Winifried Engelbrecht-Bresges, chief executive officer of the HKJC said.
Looking ahead, the Club will develop a multi-billion, next generation customer information and wagering system to stay ahead of the game. It will also look to expand recently introduced commingling, particularly in Europe.
