Hong Kong, Sep 14 (DPA) Hong Kong people bet over $100 million on the first day of the horse racing season in what is seen as a healthy sign for the city’s economy, race organisers said Monday.
Turnover on Sunday’s race day was 833 million Hong Kong dollars ($107.48 million), around two million Hong Kong dollars more than on the opening day of the season last year.
Race organisers the Hong Kong Jockey Club described betting income from Sunday’s season opening at the Shatin race course as pleasing and said they were “cautiously optimistic” about the year ahead.
Income from horse races is seen as a reliable economic indicator in gambling-mad Hong Kong, where betting on horses, football and a weekly lottery are the only legal forms of gambling.
In the season that finished in July, total turnover for the 78 race days was down $110 million to $8.6 billion compared to the previous season.
The Hong Kong government has been given permission to arrange five extra race days from this season onwards to reverse the fall in gambling revenue caused by the global financial crisis.
rounak