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HKJC wary of competition despite annual revenue growth

13th September 2011 10:04 am GMT

Despite marking record returns to the community of HK$17.0bn (€1.7bn) for the financial year ended June 30th, the Hong Kong Jockey Club has questioned Hong Kong’s “extraordinarily” high tax rates on horse race betting, warning that it is becoming increasingly difficult for the betting and lottery giant to compete with casino operators in nearby Macau, as well as illegal bookmakers who pay lower taxes or no taxes at all.

The Hong Kong Jockey Club (HKJC) made [...]

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