Editorial | Rebranding of horse racing is bearing fruit
The season ended on a high but the bigger achievement was in providing a world-class experience that attracts tourists and a younger crowd
Hong Kong’s horse racing season has ended on a high, with a capacity 20,000 crowd enjoying a party atmosphere at Happy Valley last week. The season has been successful. Wagering turnover bounced back from last season’s decline to increase 3 per cent to almost HK$139 billion. But the bigger achievement lies in the rebranding of racing, to make it about more than just betting on the races. The aim is to provide world-class sport and entertainment, attracting tourists and a younger crowd.
The transformation is bearing fruit. Among the 1.7 million who attended last season were nearly 200,000 mainland tourists, more than double the number for the previous season.
The Hong Kong Jockey Club has responded well to the call by Chief Executive John Lee Ka-chiu for horse racing to be one of the unique Hong Kong experiences appealing to visitors. Race days now feature live music, DJs and a focus on food and drink. The aim is to offer a “cool” experience to complement the sporting action. This is drawing a new generation of young fans. Some of them, encouragingly, don’t even bet.
The club, which has a monopoly on legal gambling in Hong Kong and pumps billions into charitable causes, is establishing itself as a global sports and entertainment brand. It has teamed up with American Idol creator Simon Fuller. One of his bands is to play at the races.
Racing, though, remains at the heart of the events. Hong Kong hailed three champion horses – Ka Ying Rising, Romantic Warrior and Voyage Bubble – last season. The introduction of lawful gambling on basketball will boost the club’s revenue as well as the government’s coffers and is intended to draw money away from illicit bookmakers. The club’s Conghua racecourse in Guangzhou, meanwhile, provided more winners than before and will start staging races next year.
Amid all the excitement, the risk of gambling leading to addiction, with serious social consequences, must not be forgotten. More must be done to prevent problem gambling and to help addicts. Horse racing has long been an iconic Hong Kong event which has flourished under the “one country, two systems” concept. China’s former paramount leader Deng Xiaoping famously said horse racing would continue after the 1997 handover. As the club adapts to changing times, the sport is set to become an even bigger winner.