Racing Activities
The HKJC conducts nearly 700 horse races per year at its two race tracks at Sha Tin and Happy Valley. During the 2001/02 racing season, the HKJC licensed 1,144 horse owners, 24 trainers and 35 jockeys and had 1,435 horses in training.
In 2002–2003, the betting turnover was HK$71 billion. After paying dividends of 58 billion and betting duty of 9.5 billion, its betting commission revenue was HK$3.9 billion. It contributes 11.7% of Hong Kong's tax revenue. Surpluses from its operation are allocated to the Hong Kong Jockey Club Charities Trust.
Since the transfer of sovereignty of Hong Kong, the popularity of horse racing has declined possibly due to economic conditions in the region; the HKJC's revenue has substantially declined in recent years.
On 16 March 2007, the HKJC appointed William (Bill) Nader, formerly with the New York Racing Association, as its executive director of racing from April 2007.
On 9 September 2007, Sha Tin Racecourse opened after its summer break with record 1-day crowd of about 60,000. Chief Secretary Henry Tang stroke the ceremonial gong. The Hong Kong Jockey Club collected US$106 million in bets (highest since 2001). Children of horse owners were admitted amid protest of local anti-gambling groups. Sunny Power, booted by Howard Cheng got the trophy in the 1,200 metre dash.
In January 2008, Eclipse and Sovereign Award winning jockey Emma-Jayne Wilson became the first North American female rider to be granted a license to compete in Hong Kong.
Read more about this topic: Hong Kong Jockey Club
Famous quotes containing the words racing and/or activities:
“Upscale people are fixated with food simply because they are now able to eat so much of it without getting fat, and the reason they don’t get fat is that they maintain a profligate level of calorie expenditure. The very same people whose evenings begin with melted goat’s cheese ... get up at dawn to run, break for a mid-morning aerobics class, and watch the evening news while racing on a stationary bicycle.”
—Barbara Ehrenreich (b. 1941)
“I am admonished in many ways that time is pushing me inexorably along. I am approaching the threshold of age; in 1977 I shall be 142. This is no time to be flitting about the earth. I must cease from the activities proper to youth and begin to take on the dignities and gravities and inertia proper to that season of honorable senility which is on its way.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)