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Founded in 1884 as an amateur racing body, its status changed to professional in 1971.
The HKJC conducts nearly 700 horse races per year at its two race tracks at Sha Tin and Happy Valley. During the 2001/02 racing season, the HKJC licensed approximately 1,144 horse owners, 24 trainers and 35 jockeyIn sports, a jockey is one who rides horses in racing, primarily as a profession. Jockeys are nominated by horse trainers to ride their horses in races, usually for a fee (which is paid regardless of the prize money the horse earns for a race). Jockeys uss and had 1,435 horseThis article discusses ungulate mammals. For other meanings of horse see Horse (disambiguation). The Horse Equus caballus is a large ungulate mammal, one of the seven modern species of the genus Equus''. It has long played an important role in transportats in training.
In 2002-2003, the betting turnover was HKD 71 billion (approximately USD 9 billion). After paying dividends of 58 billion and betting duty of 9.5 billion, it betting commission revenue was HKD 3.9 billion (approximately USD 0.5 billion). It contributes 11.7% of Hong Kong's tax revenue. Surpluses from its operation are allocated to the Hong Kong Jockey Club Charities Trust which serves as the administrator for the club's charitable donations. The trust serves four principal areas of civic and social need: sports, recreation and culture, education and training, community services and medical and health.
The HKJC's revenue has substantially declined since the People's Republic of ChinaThe People's Republic of China PRC comprises most of the cultural, historic, and geographic area known as China. Since its founding in 1949, it has been led by the Communist Party of China (CPC). It is the world's most populous country, with a population resumed its exercise of sovereigntySovereignty is the exclusive right to exercise supreme authority over a geographic region or group of people, such as a nation or a tribe. Sovereignty is generally vested in a government or other political agency, though there are cases where it is held b over Hong Kong on July 1July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. Events 1097 Battle of Dorylaeum Crusaders under Bohemond of Taranto defeat a Turkish army under Qilich Arslan I. 1690 Battle of the Boyne as reck, 19971997 was a common year starting on Wednesday (see link for calendar), and was designated the International Year of the Reef''. Events January January 3 NBC's Today Show Bryant Gumbel signs off for the last time January 8 Mister Rogers receives a star on t from the United KingdomThe United Kingdom of Great Britain and Northern Ireland is a state in Western Europe, usually known simply as the United Kingdom the UK Britain or less accurately as Great Britain . The UK was formed by a series of Acts of Union which united the formerly, possibly due to economic recession in the region.
The HKJC was instrumental in persuading the Hong Kong government to pass the Gambling (Amendment) Bill 2002 to combat unauthorized cross-border gambling and the related promotional activities in Hong Kong, making it a criminal offence for any person in Hong Kong to bet with an unauthorized bookmaker, even when the bets are received outside Hong Kong. The offence applies to all visitors as well as to residents of Hong Kong.
It was also instrumental in persuading other members of the Asian Racing FederationThe Asian Racing Federation is an international federation of horse racing governing bodies in Asia, most of which are government granted monopolies. Established in 1960 as the Asian Racing Conference, it changed its name to Asian Racing Federation in 200 to sign the Good Neighbour Policy on September 1, 2003.
See also: Macau Jockey Club