The Hong Kong Jockey Club (HKJC) has reported total gaming and lottery turnover of HK$320.3bn (£30.4bn) for 2024-25, representing a 5% year-on-year (YoY) increase.
The HKJC said the increase came against the backdrop of a “challenging economic environment and the growing threat posed by illegal gambling”.
In turn, gaming and lottery revenue landed at HK$43.8bn, with total revenue for the entity up 1.9% YoY to HK$49.3bn.
EBITDA for the 12 months ending 30 June came to HK$35.3bn, which was flat against 2023-24.
HKJC said the financial performance was “exceptional”, with the club able to pay a record HK$28.8bn in gaming tax and profit tax to the Hong Kong government, plus HK$1.3bn to the lotteries fund.
Breaking performance down by vertical, horseracing stakes were up 1.8% to HK$138.5bn, which HKJC said was due to the stabilisation of local betting volume and “internationalising” Hong Kong races.
The club now has more than 70 commingling partners in 26 countries and jurisdictions. Commingled turnover for the season was up 10.1% YoY to HK$31.8bn.
In the football betting arm, turnover rose 7.8% to HK$172.8bn, marking a new high for the division.
More betting markets were cited as a core reason for the growth, with HKJC stating it had helped push back against the black market.
The Mark Six Lottery turnover hit HK$9bn, a 5% YoY rise, due to the increase in the jackpot prize fund, management said.
Looking ahead, management noted it would relish the chance to offer regulated basketball betting, with the Hong Kong government continuing to explore the possibility of approving it.
HKJC has also named a new chair, with the appointment of Liao Changjiang confirmed at its annual general meeting on 29 August.
Changjiang will replace Li Chi-hau in the role, who elected to step down as chair after three years. He also resigned from the HKJC board.
Winfried Engelbrecht-Bresges, HKJC CEO, said: “Against a challenging economic environment and fierce competition from illegal offshore gambling, the club’s performance this year has been truly outstanding.
“The key to this success lies in our unwavering commitment to world class racing, our pursuit of a customer-centric long-term development strategy, the exceptional teamwork of our entire staff and, most importantly, our unwavering commitment to building a better society.
“Going forward, the club aspires to become a global racing, sports and entertainment brand, creating greater value for society and attracting a wider audience worldwide.”
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Organisation reports increases in turnover, revenue and EBITDA for the 12 months ending 30 June, as a new chair is confirmed at its annual general meeting
The post HKJC praises “exceptional” 2024-25 performance amid “growing threat” of black market first appeared on EGR Intel.