Hong Kong Jockey Club's charitable donations hit a record HK$3.87 billion

Charitable donations by the Hong Kong Jockey Club reached a new high of HK$3.87 billion in 2014-15, as the club enjoyed another bumper year that saw total revenue increase to a record of about HK$34.43 billion.

The increase represented a 5.2 per cent spurt from the HK$32.71 billion earned in 2013-14.

According to the club's financial report for the year, "the increase was mainly attributable to higher turnover from horse race and football betting".

It was also the second year in a row that the club had exceeded the HK$3 billion mark in charitable donations.

In the 2013-14 year, the club's Charities Trust donated HK$3.61 billion, an increase of almost 85 per cent on the previous year's HK$1.95 billion.

Adding together betting and lottery duties, profit tax, contributions to the Lotteries Fund and charitable donations, the club's total direct return to the community in 2014-15 reached HK$25.09 billion, up 2.9 per cent on 2013-14, according to the club.

Club chairman Simon Ip Sik-on yesterday said it would adopt a new approach towards its charitable efforts and work more closely with the government to tackle social issues.