Hong Kong Jockey Club Turnover Reaches Record HK$331.7 Billion
Betting and lottery turnover reached a new high despite the Club warning of increasing competition from illegal gambling and pressure from major investments.
The Hong Kong Jockey Club (HKJC) recorded a record HK$331.7 billion in betting and lottery turnover for the year ending 30 June 2026, representing an increase of 3.6% year-on-year.
Growth was recorded across racing, football betting and Mark Six, while total gaming and non-gaming revenue increased 3.1% to HK$50.8 billion. However, the Club warned that illegal gambling, high taxation and delayed returns from major investments are creating additional pressure on its financial model.
Racing And Football Betting Drive Growth
Racing turnover increased 3.6% to HK$143.3 billion, supported by continued growth in international wagering. Commingled betting on Hong Kong racing from 26 jurisdictions rose 9% to HK$34.3 billion, representing almost a quarter of total racing turnover.
Simulcast wagering increased by 21.4%, while World Pool turnover was up 23%. Football remained HKJC's largest betting vertical, generating turnover of HK$179 billion following a 3.6% increase, while Mark Six lottery turnover rose 4.2% to HK$9.4 billion.
The Club contributed HK$39.3 billion to the community during the year, an increase of 0.6%. This included HK$29.3 billion in betting duties and profits tax, HK$1.4 billion for the Lotteries Fund and HK$8.6 billion in approved donations from the Jockey Club Charities Trust.
According to HKJC, its tax payments accounted for 6.4% of all taxes collected by Hong Kong's Inland Revenue Department during the 2025/26 assessment year.
HKJC Warns Of Illegal Gambling Competition
Despite the record turnover, the Club highlighted growing competition from illegal betting operators as a significant concern. HKJC said offshore bookmakers are able to compete without facing the same tax burden as the regulated market while also offering wagering across a wider selection of sports.
Legal racing betting in Hong Kong can face duty rates of up to 75%, while football betting is taxed at 50% of gross margin. The Club also paid an additional special football betting duty of HK$2.4 billion during the year.
HKJC's concerns have increased following the government's decision to pause plans for regulated basketball betting. The Club had already invested in technology and preparations for a proposed 2026 launch and is now redirecting its new sports wagering platform towards football.
It argues that without a regulated basketball betting product, existing consumer demand risks remaining with illegal operators, which have expanded their reach through digital platforms, cryptocurrency and social media.
Conghua Racing Plans Delayed
HKJC has also postponed plans to stage racing at Conghua Racecourse in Guangzhou in October following an updated risk assessment from Mainland authorities. The Club said additional mitigation measures would be required before racing could proceed, with no replacement date announced.
Conghua has become an important part of HKJC's long-term racing strategy, with more than 600 horses currently trained at the facility. The additional capacity has helped increase the Club's total horse population to more than 1,300.
The setback comes despite increasing interest in Hong Kong racing from international visitors. HKJC recorded 401,259 tourist visits during the season, an increase of 105% year-on-year and approximately four times the level recorded in 2023/24.
Club Expects Financial Pressure To Continue
The Jockey Club Charities Trust approved HK$8.6 billion for 191 charities and community projects during the year, compared with HK$9 billion in the previous period. Since 1997, the Trust has approved a total of HK$98 billion in donations.
Despite increasing turnover by more than HK$11 billion during the year, HKJC's overall contribution to government, the Lotteries Fund and charitable projects increased by only HK$227 million.
The Club expects its operating surplus to decline further over the coming years as investment continues in Conghua, digital infrastructure, racecourse redevelopment and its new wagering technology. It is seeking to reduce costs and generate additional non-wagering revenue while maintaining its community funding commitments.
HKJC also confirmed changes to its Board of Stewards, with Kenneth Fok Kai Kong elected for a one-year term to replace the retiring Nicholas D Hunsworth. Martin Liao will continue as Chairman, with Lester Huang remaining Deputy Chairman for 2026/27.
