Daily News Archive
Daily News Subscription
HKJC Warning On Illegal Betting Operators
The Hong Kong Jockey Club announced it paid HK$13.23 billion (A$1.89bn) "to the public purse in betting duties & tax in the recently completed 2007-08 season, the highest figure for 10 years". In total, the Club's contribution to the community "in terms of taxes, duties, charitable donations & other payments was well over HK$15 billion (A$2.14bn)". However HKJC chief executive Winfried Engelbrecht-Bresges warned illegal & offshore operators were "increasingly targeting the Club's major customers" noting: "Hong Kong has worked hard to establish its position as a global leader in horse racing & football betting, but this leadership position is now being eroded by a trend of betting deregulation that is fast taking root throughout this part of the world. If the Club is not allowed the ability to remain competitive, the major losers in the end will be the public purse & the community at large."