Hong Kong Racing Chief warns of industry at a crossroads

cityam

Feb 12

Winfried Engelbrecht-Bresges at the Asian Racing Conference MAJOR challenges for the racing industry and betting companies were highlighted as global leaders gathered at the 41st Asian Racing ...

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the Asian Racing Conference MAJOR challenges for the racing industry and betting companies were highlighted as global leaders gathered at the 41st Asian Racing ...</p>\n\n<a href=\"https://www.cityam.com/hong-kong-racing-chief-warns-of-industry-at-a-crossroads/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Racing Chief warns of industry at a crossroads</title>\n<style 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...</p>\n\n<a href=\"https://www.cityam.com/hong-kong-racing-chief-warns-of-industry-at-a-crossroads/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARC","symbol_name":"美国图文公司","start_time":0,"source_url":"https://www.cityam.com/hong-kong-racing-chief-warns-of-industry-at-a-crossroads/","article_id":"2610694986","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/02/Winfried_4.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/hong-kong-racing-chief-warns-of-industry-at-a-crossroads/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2610694986","pubTimestamp":1770887022,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Winfried Engelbrecht-Bresges at the Asian Racing Conference MAJOR challenges for the racing industry and betting companies were highlighted as global leaders gathered at the 41st Asian Racing Conference  in Riyadh this week.Front and centre was Winfried Engelbrecht-Bresges, Chief Executive of the Hong Kong Jockey Club  and Chair of the Asian Racing Federation .In his opening address as ARF Chair, a position he has held since 2014, Engelbrecht-Bresges outlined several key threats facing the racing industry, including the growth of illegal gambling, increased competition from sports betting, iGaming and prediction markets, and an ageing fan base.“I firmly believe that we stand at a crossroads,” he said. “A crossroads for growth, and one where we may struggle to shape our future in the way the sport requires.”However, he warned that racing’s market share is declining.“Wagering trends, especially since 2023, show racing’s share continues to shrink,” he said.“In 2020, racing had a market sh","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ARC":"美国图文公司","BK4143":"办公服务与用品"},"translate_title":"香港赛车总监警告行业正处于十字路口","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARC":1},"content_text":"Winfried Engelbrecht-Bresges at the Asian Racing Conference MAJOR challenges for the racing industry and betting companies were highlighted as global leaders gathered at the 41st Asian Racing Conference (ARC) in Riyadh this week.Front and centre was Winfried Engelbrecht-Bresges, Chief Executive of the Hong Kong Jockey Club (HKJC) and Chair of the Asian Racing Federation (ARF).In his opening address as ARF Chair, a position he has held since 2014, Engelbrecht-Bresges outlined several key threats facing the racing industry, including the growth of illegal gambling, increased competition from sports betting, iGaming and prediction markets, and an ageing fan base.“I firmly believe that we stand at a crossroads,” he said. “A crossroads for growth, and one where we may struggle to shape our future in the way the sport requires.”\n\nAs head of the HKJC, an organisation generating approximately £13 billion in annual betting turnover and home to two of the world’s top 10 ranked racehorses, Engelbrecht-Bresges oversees one of the most influential and respected racing and betting bodies globally.\n\n\n\n\n\n\nThe Turnover - City AM Sports Newsletter\nStay in the game with The Turnover: your weekly roundup of sport business news, expert analysis and behind‑the‑scenes stories from City AM’s sports desk.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHowever, he warned that racing’s market share is declining.“Wagering trends, especially since 2023, show racing’s share continues to shrink,” he said.“In 2020, racing had a market share of 22 per cent. We are now down to 13 per cent.”\n\nEngelbrecht-Bresges pointed to World Pool as an example of how racing can evolve both as a sport and a betting product.Created by the Hong Kong Jockey Club and first launched at Royal Ascot in 2019, World Pool was designed to create a global, consolidated pari-mutuel market.The system allows bettors from multiple countries to wager into one shared pool on elite international races, offering improved odds stability and potentially higher returns.Now entering its seventh year, the initiative includes more than 27 jurisdictions offering access to pools across major racedays in 11 countries.\n\n“We expect turnover for World Pool to reach around HK$12 billion in 2025/26,” Engelbrecht-Bresges said.“This initiative demonstrates what can be achieved through collaboration. When we showcase the best racing in the world, we generate growth. We have expanded coverage to include 54 per cent of the world’s top Group One races across 380 events.”Echoing themes raised at the ARF’s previous conference in Sapporo in 2024, Engelbrecht-Bresges emphasised the need for stronger global cooperation within the industry.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}