The Hong Kong Jockey Club has released figures for its financial year 2023/24 – ended 30 June 2024 – and highlighting a 3.1% decrease in racing turnover to HK$136.1bn (US$17.5bn), with overall turnover seeing no measurable change year-on-year.
The marginal decrease in racing turnover comes despite an additional two race meetings over the course of the 2023/24 year. However, a rise of 2.2% in football turnover, paired with a 13.3% increase in Mark Six Lottery turnover, allowed the overall figure to lie flat at HK$304.9bn – compared to the figure of HK$304.8bn recorded in 2022/23.
Despite the relatively unchanged results in general turnover, the club’s net margin fell by 10.5% to HK$14.8bn – local wagering turnover was also down 4.5% for the season. However, 2023/24 saw a record figure of HK$40.1bn contributed to the HK community by the Jockey Club. Looking forward, the club will be hoping to draw on the positives of these figures, as it moves into the beginning of a new season.
Club CEO Winfried Engelbrecht-Bresges commented on the results, saying: “Looking back over the past year I am once again struck by the enormous resilience of the club. Having taken everything that the pandemic had to throw at us, we have had to contend with an extremely challenging macro-economic environment as well as significant changes in customer behaviour as they seek out new experiences online or in outbound destinations.
“Despite this, the club has continued to deliver outstanding racing entertainment and the strongest support for our community.”
These latest figures follow the Hong Kong Jockey Club announcing the creation of the “ChatGPT version of horseracing,” as the club looks to take a new, data-driven approach to customer retention.
