Figures released Tuesday show the HKJC generated total betting turnover of HK$218.7b (US$28.2b) in the 12 months ending June 30, an 11.6% decline from fiscal 2018-19. All three HJKC verticals were in negative territory, each for its own distinct reasons.
Racing operations reported turnover falling 3.2% year-on-year to HK$121b, reflecting not only the disruption caused by COVID-19 – off-track betting facilities shut in February and didn’t reopen until June – but also the pro-democracy protests that resulted in the cancellation of several meetings early in the season.
Of the racing turnover, HK$97.7b was wagered locally, with the remaining HK$23.3b coming from commingling. That latter sum was up by more than one-quarter year-on-year, accounting for nearly one-fifth of total racing turnover.
The HKJC’s football betting segment reported turnover falling 18.8% to HK$92.6b following the suspension of most major league play this spring. Digital channels were responsible for 70% of FY20’s turnover – peaking at 90% during the pandemic – and the HKJC plans further digital product enhancement to ensure it has a strong fallback position should a COVID-19 resurgence be in the cards.
Sales of the Mark Six numeric lottery suffered the worst, faling 39% to HK$5.1b. Most Mark Six sales are conducted via the OTB branches, and their closure convinced the HKJC to suspend all Mark Six sales on February 2.
On a revenue basis, racing claimed the biggest slice at HK$16.6b, with sports betting well back at HK$12.5b and Mark Six last with just HK$2.4b. Of this bounty, the HKJC returned HK$25.2b to the community, a 12.6% decline from the previous year.
Undaunted, the HKJC says it plans to offer a record HK$1.4b in prize money in the current season to attract top overseas horses to race in Hong Kong and to encourage local owners to continue to invest in quality nags.