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Hong Kong Betting Revenues Down17 June 2002HONG KONG – As reported by the Thoroughbred Times: "Betting revenues in Hong Kong declined 4% to $10,012,820,512 [$78.1-billion Hong Kong] during the 2001-'02 racing season, which concluded on Sunday at Sha Tin racecourse. "Average attendance for the season was 30,135, down 13% from a year ago. "Taxes paid by the Hong Kong Jockey Club on betting revenues were estimated at $1.5-billion, down 4% from last year. "Lawrence Wong, Chief Executive of the Hong Kong Jockey Club, attributed the decline to `the sluggish performance of the economy and the effects of illegal gambling, particularly the upsurge in sports gambling with illegal and offshore bookmakers.'…" |