The Hong Kong Jockey Club (HKJC) is facing increasing difficulties, particularly after the upcoming launch of basketball betting was suspended by the Home Affairs and Youth Bureau.
Figures in local communities have reached out to the media to express their concern about how this will affect the HKJC’s operations.
As Hong Kong’s sole gambling operator, the HKJC handles multiple markets, including horseracing and football.
However, before each new vertical is launched, the club has to invest well over HKD$100m (USD$12.76m) in betting infrastructure, dedicated software and staff for the new systems.
The HKJC launched football markets in 2022, but the authorities imposed a special football betting duty of HK$2.4bn on the club until the 2027/28 financial year.
This is intended to increase government revenue in the short term and was applied on top of the regular 50% tax the club faces.
It is believed that the HKJC invested several hundred million dollars into the upcoming basketball markets, too.
Doreen Kong Yuk-foon, former lawmaker, said: “Hong Kong faces too many social problems now, such as the ageing population, that require funding [to solve], while the government is tightening public expenditure on such fronts.
“I have talked to many non-government organisations, and they said their funding relies on the Jockey Club, … so the government should help out the club to allow it to do better [in social welfare].”
It remains unclear when, or if, basketball betting will be launched any time soon in Hong Kong.
According to the HKJC annual report, the organisation donated more than HKD$9bn in the 2024/25 financial year.
The HKJC was responsible for funding several Year of the Horse celebrations during the Lunar New Year, including fireworks and drone shows.
Another initiative, the Jockey Club Nature Conservation Centre at Kadoorie Farm and Botanic Garden (KFBG) opened earlier this year, marking a major step forward for Hong Kong’s environmental education and biodiversity conservation efforts.
The HKJC supports more than 202 charities and organisations, with 95% of operating surplus donated to the Hong Kong Jockey Club Charities Trust
