The Jockey Club monopoly costs Hong Kong far too high a price

The Hong Kong Association of Travel Agents is warning that Hong Kong is rapidly losing its competitive edge to Macau as a destination for conventions and meetings, and that this will severely affect hotels and restaurants here ('HK warned on conventions threat', September 17). The effect on property values and shopping returns is sure to be significant as well, along with declines in employment opportunities.

Many people, like me, have been urging the Hong Kong government to allow at least one casino in this city, so that we can remain a viable travel destination. Instead, we got a wet blanket of a Disney theme park, which cost the Hong Kong taxpayer billions and which will lose its viability as soon as the Shanghai operation starts.

Why aren't we creating our own casino ? Because our government is busy protecting a moribund monopoly called the Hong Kong Jockey Club, which operates on delusions of exclusivity dating back to the 19th century. We do, however, have an out-of-date Mark Six, which any other advanced country would regard as a joke - run, of course, by the same Jockey Club monopoly. We should have a scratch-card lottery run by the government for the benefit of Hongkongers, but this would of course be opposed by the monolith.

It is time we assessed the value of the Jockey Club to Hong Kong to see if we need it at all. Given the impact that Macau is having on our industries, I think we can no longer blindly support the club's monopoly. We must bring in a casino and we must relegate the Jockey Club to what it was designed to do: operate a couple of racetracks.

I have spoken to legislative councillors about this, but they have no interest in fighting the vested interests of the Jockey Club. Hong Kong's fight for democracy will become a farce if we lose all our economic strength and continue to support geriatric institutions that are costing us our credibility.

It is only Hong Kong's economic viability and strength that makes anyone listen to us. If we keep on this path to second-rate status and lower, then no one, neither China nor the outside world, will have any interest in what happens here.