Hong Kong Jockey Club

Founded in 1884 as an amateur body to promote horse racing, it was an exclusive club whose membership was drawn from the upper class with strict rules of membership, with women and people of unsuitable background being banned. This led to the club having no Chinese members until the 20th century. In July 2005, a decision was made to stage equestrian competitions of the 2008 Summer Olympics in Hong Kong. The club's racing centre at Sha Tin was used as the foundation for the Olympic and Paralympic venues, with additional competition and training venues being incorporated into existing sports facilities at the Hong Kong Sports Institute, the Jockey Club Beas River Country Club and the adjacent golf course. In January 2023, after Regina Ip proposed increasing taxes on the Jockey Club's football betting revenue, the Jockey Club said that the move would "destroy" its business model and jeopardize public interest. In February 2023, after Financial Secretary Paul Chan increased football betting taxes, Chan said "They can have their reactions, and we will do what we have to do." ==Racing activities==

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 struck 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, ridden 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. Following the reform and other changes mentioned above, the HKJC revenue has steadily risen to previous levels and beyond. The total racing revenue for the Racing Season 2011/2012 reached HK$86.1 billion, up 43.4% since the 2006 reform. ==Betting and the law==

The HKJC has a legal monopoly over betting on horse racing and football. In 1974, it opened 6 off-course branches where the members of the public could wager on horse race meets at the club's Happy Valley racecourse. There are now in excess of 100 betting branches throughout the territory that accept bets on racing and football, as well as buy Mark Six lottery tickets. ==Social membership==

Membership in this club is very strict, limited to the moneyed social elite. In the past, this club was reserved for only "old money" families; but currently there are increasing numbers of "newly rich" members. In September 2021, the club terminated several memberships, including those of Martin Lee, Jimmy Lai, and Albert Ho. ==Charities==

The Charities Trust’s substantial donations to the community are made possible by The Hong Kong Jockey Club’s unique integrated business model, which comprises racing and racecourse entertainment, responsible sports wagering and lottery, a membership club, and charities and community contribution. Approximately 90% of the Club’s annual operating surplus after tax is donated to its Charities Trust, enabling it to play a significant role in the community’s development. ==Lease==

The Happy Valley Racecourse occupies a 92,000 m2 plot of land on Inland Lot 8847, under a government-subsidized Private Recreational Lease. The lease began in 1884 and currently is set to expire on 23 June 2034. with one researcher saying that such a plan was unfair and that "The government has leased the land to them at a very favourable price. It is not reasonable for them to profit fully from it." ==Club chairmen==

The role of Chief Executive Officer was first known as the General Manager. Major-General Bernard Penfold was appointed as the club's first General Manager in 1972. • Major-General Robert Bernard Penfold, CB, LVO (1972–1979) • General Sir Arthur John Archer KCB, OBE (1979–1986) • Major-General Guy Hansard Watkins, CB, OBE (1986–1996) • (1996–2007) • , GBS, JP (2007–present) ==See also==