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Hong Kong Jockey Club
http://www.hkjc.com


 

Hong Kong Jockey Club (HKJC, Traditional Chinese: 香港賽馬會) is one of the oldest institutions in Hong Kong, founded in 1884 to promote horse racing. Under colonial rule, the club enjoyed royal patronage, and existed under the name of "The Royal Hong Kong Jockey Club" (英皇御准香港賽馬會) until 1996.

It is a non-profit organisation providing horse racing, sporting and betting entertainment in Hong Kong. It holds a government-granted monopoly in providing pari-mutuel betting on horse racing, "Mark Six" lotteries, and fixed odds betting on overseas football events. The organization is the largest taxpayer in Hong Kong, as well as the largest private donor of charity funds, contributing an average of over HK$1 billion (approximately US$130 million) annually over the past ten years. The HKJC also provides dining, social and recreation facilities to approximately 20,000 members.

The HKJC conducts nearly 700 horse races per year at its two race tracks at Sha Tin and Happy Valley. During the 2001/02 racing season, the HKJC licensed 1,144 horse owners, 24 trainers and 35 jockeys and had 1,435 horses in training.

In 2002-2003, the betting turnover was HKD 71 billion. After paying dividends of 58 billion and betting duty of 9.5 billion, its betting commission revenue was HKD 3.9 billion. It contributes 11.7% of Hong Kong's tax revenue. Surpluses from its operation are allocated to the Hong Kong Jockey Club Charities Trust.

Since the transfer of sovereignty of Hong Kong, the popularity of horse racing has declined, also possibly due to economic conditions in the region, the HKJC's revenue has substantially declined in recent years.
On March 16, 2007, the HKJC appointed William (Bill) Nader, formerly with the New York Racing Association, as its executive director of racing from April 2007.
On September 9, 2007, Sha Tin Racecourse opened with record 1-day crowd of about 60,000. Chief Secretary Henry Tang stroke the ceremonial gong. The Hong Kong Jockey Club collected US$106 million in bets (highest since 2001). Children of horse owners were admitted amid protest of local anti-gambling groups. Sunny Power, booted by Howard Cheng got the trophy in the 1,200 metre dash.

Posted on 3 OCt 2007
 



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