For the first time in its 123-year history, the Hong Kong Jockey Club (HKJC) will take bets from the United States on Hong Kong horse races.
The HKJC in July entered into a partnership with Nevada-based Las Vegas Dissemination Company (LVDC) that will see LVDC offer full tote services and live simulcasting of featured races held at the HKJC to U.S. bettors, and see the HKJC accept commingled bets from bettors into its pools. The deal, however, is a one-way agreement. It allows U.S. bettors to wager on Hong Kong races, but does not allow LVDC to accept bets from Hong Kong on U.S. races.
For now the companies will take bets from two states.
Foxwoods Resort Casino in Connecticut on Aug. 8 announced an exclusive 5-year agreement to simulcast horse racing events from the HKJC allowing patrons of the casino to place bets on Hong Kong races beginning in September. Foxwoods has obtained the exclusive rights in Connecticut to feature these races in their Ultimate Race Book.
But a greater boost for the companies is that the Nevada Gaming Commission on Aug. 23 gave its approval for the HKJC to accept bets from Las Vegas bettors opening up an entire market of bettors.
HKJC CEO Winfried Engelbrecht-Bresges has said the deal with Las Vegas could boost the club's annual race handle by more than $1.5 billion.
The HKJC season begins in early September