\u201cThe last probably half a dozen years we\u2019ve seen a lot of Chinese groups invest in our industry, which is fantastic,\u201d said Adam White, the bloodstock manager at Vinery Stud. \u201cThey\u2019re also exporting horses from here to China to race.\u201d<\/p><\/blockquote>\n
Hong Kong Horse Track Thrives<\/h2>\n
Most of this interest hasn\u2019t translated onto the Chinese mainland just yet. Instead, the focus is in Hong Kong, where the Hong Kong Jockey Club (HKJC) runs more than 700 races a year on their two tracks. In the fiscal year ending June 30, the HKJC took in a record HK$216.5 billion ($27.7 billion), with more than half of that coming from horse racing alone.<\/p>\n
Comparatively, racing on the mainland is still fraught with uncertainty. The HKJC themselves hope to establish a foothold in China proper, even announcing a deal in 2014 to open a training facility near Guangzhou.<\/p>\n
That facility has yet to open because of bureaucratic red tape, and has caused quarantine issues for Hong Kong\u2019s racing industry.<\/p>\n
But the allure of a potential mainland windfall remains, with the HKJC being just the latest group to hope they\u2019ll be in position to take advantage if anti-gambling laws are loosened<\/a> and the Chinese public catches racing fever.<\/p>\n","protected":false},"excerpt":{"rendered":"After remaining a popular pastime for millennia, horse racing in China was virtually shut down after a government ban in 1945. Now, some investors have been trying to bring the sport back, though the process has proven to be slow and difficult so far. Over the past decade, investors from around the world have made […]<\/p>\n","protected":false},"author":42,"featured_media":61053,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,60,16],"tags":[],"acf":[],"yoast_head":"\n
Investors Struggle to Reboot China's Horse Racing Industry<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n