Hong Kong Jockey Club full-year online revenue hits £3.1bn
Revenues from the Asian operator’s digital business increase 4.2% YoY for the 12 months ended 30 June
The Hong Kong Jockey Club (HKJC) recorded a 4.2% year-on-year rise in full-year online NGR to HK$29.9bn (£3.1bn) for the 12 months ended 30 June 2019, EGR Intel can reveal.
The Asian operator’s digital business grew from the $28.7bn reported in the previous 12-month period, according to figures seen by EGR, and accounted for a majority of the total $37bn betting and lottery revenue recently revealed in its annual report.
According to the report, total revenue from horseracing and football betting stood at $17.8bn and $15.3bn respectively, while Mark Six Lottery made up the remaining $3.9bn.
The monopoly operator, which returned 78.1% of its revenue back to Hong Kong, took a total of $247.5bn in bets in the 12-month period and paid a total of $23.3bn in taxes.
In its 2018/2019 report, the non-profit organisation hailed the improvements to its digital business for its continued growth, including the addition of new features such as HKJC TV and Racing Touch applications.
“The Club’s Retail Department has been steadily migrating customer transactions to online channels,” HKJC noted.
“Customers have also benefited from the Club’s significant investment in technology, especially the creation of differentiated digital wagering experiences for targeted customer segments, with 60% of transactions now being carried out via digital channels.”
The release of the financial figures come after the Club recently criticised Betfair Australia for its decision to offer exchange betting on Hong Kong races from September, claiming it threatened the integrity of the sport.
According to HKJC, Betfair had acted in a way which was “cavalier, unconscionable and in reckless disregard” for the economic value of racing in Hong Kong.
HKJC came 14th in last year’s EGR Power 50 rankings.