HK season ends on a high, Latest Racing News - The New Paper
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HK season ends on a high

Turnover sees an increase to S$21.6 billion due to top racing and global growth

World-class sport and incredible global growth underpinned a memorable 2017/18 racing season in Hong Kong, which concluded on Sunday, with overall turnover of HK$124.2 billion (S$21.6 billion), representing a 5.8 per cent increase on the previous season.

A crowd of 31,903 turned out at Sha Tin for the afternoon's season finale and enjoyed the conclusion to a fascinating battle for the champion jockey title.

Zac Purton sealed the premiership with his win on Rise High in the Class 1 Sha Tin Mile Trophy Handicap (1,600m), holding off defending champion Joao Moreira, who rode a treble. The final score was 136-134.

John Size won his 10th trainer's championship in 18 seasons with 87 winners.

The day's turnover came in at HK$1.938 billion, the highest ever for an 11-race card, while commingling for the day set a record at HK$335 million.

Said Winfried Engelbrecht-Bresges, chief executive officer of the Hong Kong Jockey Club: "We are delighted with another record season, one of our most exciting seasons both on and off the track. That excitement reached a thrilling climax this afternoon, with Zac Purton holding off Joao Moreira's final push to win the jockeys' championship. As well as great sport today, we also had record turnover for an 11-race meeting, despite receiving 35 millimetres of rain, and that shows the enthusiasm for our product.

"It is extremely competitive and exciting. We have world-class jockeys from right across the globe, world-class trainers, horses sourced from all over the world. We deliver the most international racing product, and, in terms of excitement, I don't think any racing jurisdiction can match us on a race-by-race basis.

The CEO emphasised the club's strong financial position: "Our total gross margin of HK$5.48 billion is an increase of 6.3 per cent. Our contribution as Hong Kong's biggest taxpayer once again topped HK$13 billion for the second time, demonstrating the importance of racing to the Hong Kong community."

Much of the growth across the season was due to the Hong Kong Jockey Club's strategic positioning as a global commingling hub. The total amount wagered with commingling partners reached HK$16.5 billion, a massive increase of 154.8 per cent on last season's HK$6.5 billion.

"Commingling is quickly changing the global landscape and that is seen in the fact that it made up 13.3 per cent of our season's turnover this year, compared to 5.5 per cent last year. said Engelbrecht-Bresges.

"Today, we reached a new record of HK$335 million for a single race meeting, a truly extraordinary mark. It is now a significant driver to Hong Kong's turnover and that is due to the ever-increasing international interest in our racing product, which is proving to be attractive as an exciting sports option founded upon the highest integrity."

Also noted was the increase in simulcast turnover, with Hong Kong bettors wagering HK$3.94 billion on races from abroad, an increase of 12 per cent on the previous season.

He said: "This trend comes at a time when our customers are showing a greater appreciation for international racing," said Engelbrecht-Bresges.

"The time is right for us to launch our World Pool concept, beginning with Royal Ascot next year, which will offer a strong value proposition to customers in the UK and Hong Kong, and further strengthen our position as the international hub of commingling."

The CEO noted that there had been many spectacular moments during the 2017/18 season, with Beauty Generation taking honours as Hong Kong's Horse of the Year in a season which could make a case for a number of horses.

"This demonstrates how competitive Hong Kong racing is and, in Beauty Generation, we have a creditable winner," said Engelbrecht-Bresges.

The 2018/19 Hong Kong racing season will begin on Sept 2.- HKJC

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