The Jockey Club said yesterday it had no plans to make staff redundant amid reports that its senior employees would take a voluntary pay cut from next month. The club said it was still reviewing the pay situation and would soon be announcing the results of a review. 'Around this time every year, the management reviews the pay of our staff and an announcement will be made shortly before July,' its statement read. 'We have to stress that we have no plans for redundancies and are determined to protect the jobs of our staff.' The reassurance came after a Chinese-language newspaper reported yesterday that the club's senior executives, including chief executive officer Lawrence Wong Chi-kwong, would take a voluntary pay cut of 10 per cent. The club imposed a pay freeze on its 4,300 full-time employers and 12,000 part-timers in 1998, 1999 and 2002. In 2001, the club's employees received pay rises ranging from 1.5 and 2.2 per cent. Last month the club hosted a recruitment fair that attracted 48,000 jobseekers, competing for 3,600 jobs, 3,000 of which were part-time posts. The Jockey Club is the sole legal gambling operator in Hong Kong, through horse racing and the Mark Six lottery, but it has suffered from a continuing slump in betting revenue over the past six years. It is expected that betting revenue will slide further, from $78.16 billion last year to another record low this year. Revenue peaked in 1996-1997, when it hit $92.35 billion. The revenue slump has led to lower betting duty passed to the government and has prompted fears among charity groups that they will receive insufficient funding from the club. Legalised football betting, due to be formalised in the next two months, is expected to reverse the club's revenue plunge.