Horse racing scores big in Hong Kong

Young punters driving growth.

Horse racing bets in Hong Kong hit a new record of US$12.1 billion in the 2012/13 season as the Hong Kong Jockey Club moved aggressively to attract younger punters to its races.

Season revenue rose 9% year-on-year, erasing the previous record set in the 1996/97 season. The 83 races during last season drew over two million attendees, said the club.

Jockey Club CEO Winfried Engelbrecht-Bresges described the recent racing year as one of the best seasons they’ve ever had. He noted that club’s strategy helped to grow its base of racing fans significantly.

The Jockey Club added new restaurants, and hosted music and wine-tasting events to its Wednesday night races to attract a young professional crowd. The club is the city’s sole provider of horse racing, football betting and lotteries.

To attract the growing ranks of affluent Chinese, the Jockey Club has opened a clubhouse two kilometers from Beijing.