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SBD Global/July 9, 2013/Finance

With One Meeting Left, Hong Kong Jockey Club Has More Than $12B In Season Turnover

The Hong Kong Jockey Club has revealed a season turnover high of HK$92B ($12B) with one meeting left, according to Alan Aitken of the SOUTH CHINA MORNING POST. The "high-water mark for turnover" came in '96-97 at HK$92B before a decade of post-handover decline, but the resurgence since betting duty reforms in '06 "has seen the numbers back on an upward trajectory" and Jockey Club CEO Winfried Engelbrecht-Bresges said a new record will be set this term. Engelbrecht-Bresges said, "We will deliver the full figures after Happy Valley, but we have already topped HK$92 billion for the season -- an increase of 9% -- and I'm sure we will put a smile on every face in the government, which will receive a HK$1B ($130M) billion increase [in duty]." Gongs "were handed out for everything." Triple Group One winner Military Attack was named Horse of the Year as well as the Most Popular Horse. Sprinter Lucky Nine and miler Ambitious Dragon took divisions, while stayer California Memory claimed his first Champion Award (SOUTH CHINA MORNING POST, 7/8).
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