Asia
Hong Kong’s record prize money increase includes world’s richest Group 1 turf sprint
Hong Kong Sprint raised to £2.2m as HKJC boosts prize pot for 2020/21 to over £143m
Hong Kong racing will offer record prize money of HK$1.4 billion (£143.5m) for the 2020/21 season, with the Group 1 LONGINES Hong Kong Sprint and BMW Hong Kong Derby featuring prominently among the Hong Kong Jockey Club’s upward adjustments.
The LONGINES Hong Kong Sprint (6f) will regain its position as the world’s most richly-endowed Group 1 turf sprint with a value this year of HK$22 million (£2.2m), an increase of HK$2 million (£205,000). Five other Group 1 races – Centenary Sprint Cup (6f), Stewards’ Cup (1m), Queen’s Silver Jubilee Cup (7f), Hong Kong Gold Cup (1m2f) and Champions & Chater Cup (1m4f) – will receive HK$2 million (£205,000) increases, taking their value to HK$12 million (£1.2m).
The historic BMW Hong Kong Derby is Hong Kong’s most important domestic contest and will be worth HK$24 million (£2.4m), a HK$4 million (£400,000) increase on the 2020 renewal. The 1m2f contest is a key race each year, being a vital springboard for the next crop of Hong Kong’s stars, and regains its position as the second-richest Derby in the world, behind only Japan’s equivalent and ahead of the Kentucky Derby, the UAE Derby and the original Derby at Epsom.
The Hong Kong Derby is the final leg in the three-race Four-Year-Old Classic Series and the Club has also taken the decision to up prize money for first two legs: the Hong Kong Classic Mile and Hong Kong Classic Cup will both be worth HK$12 million (£1.2m) in 2021, an increase of HK$2 million (£200,000) to each race.
Race | 2019/20 (HK$) | 2020/21 (HK$) | Increase (HK$) | % Increase |
Hong Kong Sprint | 20,000,000 | 22,000,000 | 2,000,000 | 10 |
Centenary Sprint Cup | 10,000,000 | 12,000,000 | 2,000,000 | 20 |
Stewards’ Cup | 10,000,000 | 12,000,000 | 2,000,000 | 20 |
Queen’s Silver Jubilee Cup | 10,000,000 | 12,000,000 | 2,000,000 | 20 |
Hong Kong Gold Cup | 10,000,000 | 12,000,000 | 2,000,000 | 20 |
Champions & Chater Cup | 10,000,000 | 12,000,000 | 2,000,000 | 20 |
Hong Kong Derby | 20,000,000 | 24,000,000 | 4,000,000 | 20 |
Hong Kong Classic Mile | 10,000,000 | 12,000,000 | 2,000,000 | 20 |
Hong Kong Classic Cup | 10,000,000 | 12,000,000 | 2,000,000 | 20 |
All Group 2 and Group 3 races will also rise in value. Group 2 purses will increase by 5.9% from HK$4.25 million (£435,000) to HK$4.5 million (£460,000), while the prize funds for Group 3 races will rise by 7.7% from HK$3.25 million (£333,000) to HK$3.5 million (£359,000).
Total prize money for the 2020/21 season’s 88 meetings at Sha Tin and Happy Valley is up by approximately 4.9% on the 2019/20 season. This year’s lucrative purse increases span all handicap races from Class 1 down to Class 5.
Class | 2019/20 (HK$) | 2020/21 (HK$) | Increase (HK$) | % Increase |
Group 2 | 4,250,000 | 4,500,000 | 250,000 | 5.9% |
Group 3 | 3,250,000 | 3,500,000 | 250,000 | 7.7% |
1 | 2,800,000 | 3,000,000 | 200,000 | 7.1% |
2 | 2,100,000 | 2,200,000 | 100,000 | 4.8% |
3 | 1,450,000 | 1,500,000 | 50,000 | 3.4% |
4 | 967,000 | 1,000,000 | 33,000 | 3.4% |
5 | 725,000 | 750,000 | 25,000 | 3.4% |
Hong Kong Racehorse Owners Association President Mr. Chew Fook Aun said: “At a time when prize money levels are being cut worldwide, the prize money increases announced today by the Hong Kong Jockey Club are very welcome news, and a testament to the strength, resilience and buoyancy of Hong Kong racing, even in these very difficult times”.
Mr. Andrew Harding, Executive Director, Racing, at the Hong Kong Jockey Club said: “Hong Kong racing is among the best in the world and part of what makes it such a competitive sports environment is the excellent prize money available from Class 5 right up to Group 1. Despite the issues associated with the COVID-19 pandemic and the uncertainty in world economies, we will continue our successful strategy of recent years to increase purse levels as necessary in order to reward and encourage our owners and to ensure Hong Kong’s elite races are attractive to overseas competitors. This approach has been a core element in Hong Kong being able to maintain its position as a world leader in providing quality horseracing and has enabled us to achieve between 20 and 26 horses in the World’s Best Racehorse Rankings for each of the past seven years.
“For next season, the Club has increased prize money to a record overall sum, including a significant injection across all Class 1 to Class 5 handicap races and Group 2 and Group 3 contests. We believe this will help to enhance competition and assist our owners in their attempts to purchase and import the best possible horses in a difficult economic climate.”
Mr. Harding noted the importance of ensuring Hong Kong’s elite races, including the BMW Hong Kong Derby, continue to offer purse money which is among the best in the world.
“Hong Kong is already home to the world’s richest turf races at 2000 metres (1m2f), a mile and 1400 metres (7f), and, while our Group 1 prize money is strong, we have nonetheless identified a specific need to increase the prize funds for six of our Group 1 races, notably the LONGINES Hong Kong Sprint (6f), which regains its status as the world’s richest Group 1 turf sprint,” he said.
“We have also increased purses for each of our three Four-Year-Old Classic Series races, notably the BMW Hong Kong Derby, which regains its position as the second richest Derby in the world. The investment from our owners in high quality young stock for our Four-Year-Old Classic Series each year brings a vital replenishment of our elite cohort of runners, which in turn maintains the very high standard of racing here in Hong Kong.”
IJC Trainer Bonus
The Hong Kong Jockey Club has also introduced a new bonus for the LONGINES International Jockeys’ Championship held at Happy Valley in December.
To encourage a higher quality of horses in the four IJC races, the new bonus scheme will offer prizes of HK$200,000 (£20,500) to the most successful trainer in the contest’s four races, HK$100,000 (£10,250) to the runner-up and HK$50,000 (£5,125) to the third-placed trainer, with points awarded in a similar fashion to the jockeys’ competition.
Asia
Google I/O 2024 Project Gameface Android Showcase Powered By Made-in-India Indus Battle Royale
At Google I/O 2024, Google and SuperGaming showed how developers can empower over three billion Android devices with an unprecedented level of accessibility. The Project Gameface for Android showcase was also powered by SuperGaming’s upcoming made-in-India-for-the-world battle royale, Indus.
“We believe that with Project Gameface and Google AI, developers have the opportunity to bring gaming to everyone,” says Roby John, CEO and co-founder, SuperGaming. “We’re proud to partner with Google to showcase the fullest expression of accessible gaming through Indus at Google I/O 2024.”
Accessibility is crucial because it allows for games to be enjoyed by a wider range of players — regardless of their cognitive, physical, or sensory abilities. With Project Gameface, players can raise their eyebrows to click and drag, or open their mouth to move the cursor, making it possible for anyone to pursue gaming.
Asia
GROSS GAMING REVENUES UP 18.5% TO PHP81.7 BILLION IN 1Q
The Philippine Amusement and Gaming Corporation (PAGCOR) today said the country’s Gross Gaming Revenues (GGR) in the first quarter of the year reached Php81.70 billion, an 18.54% increase from the Php68.92 billion in the same quarter last year.
The latest GGR is another new record, sustaining an upward trend for the local gaming industry since the post-pandemic recovery started in the last quarter of 2022.
PAGCOR Chairman and CEO Alejandro H. Tengco said the Electronic Games (E-Games) sector continues its record-breaking performance, bringing in Php22.5 billion or more than six times the 2023 first quarter revenues of Php3.5 billion.
“The E-Games revenue performance continues to exceed our projections, and this reflects how gaming technology and the proliferation of mobile devices is influencing not only our daily lives but our entertainment choices as well,” he said.
“With the way technology is constantly shaping our lives and the way we do business, and even the way we choose to be entertained, the future of gaming clearly lies in this sector,” Mr. Tengco added.
The PAGCOR chief said the state-run gaming agency’s improved regulatory policies and reduced fees also contributed to the success of the E-Games sector.
“We are confident that with our new regulatory policies, more gaming companies both here and abroad will continue to look at business and investment opportunities in the Philippine gaming industry,” he said.
The biggest contributor to the 1Q GGR is still the country’s licensed casinos which brought in Php49.7 billion, although it is lower than the PhpPhp54.15 billion year-on-year.
PAGCOR-operated casinos under the Casino Filipino brand brought in Php4.69 billion, also lower than the previous year’s Php5.13 billion, underscoring the challenge faced by the segment as more players continue to migrate to online platforms.
Bingo operations contributed Php4.81 billion to the GGR, also lower than the 2023 first quarter take of Php6.13 billion.
The country’s projected full year GGR is Php336 billion and the first quarter total is more than 24% of the target. Gaming revenues traditionally spike in the last quarter of the year.
The first quarter GGR for 2024 is however still higher than the previous record of Php80.12 billion set in the last quarter of 2023, when full-year GGR reached Php285.27 billion.
Asia
ProgressPlay takes new standalone product to Asia
ProgressPlay, renowned as one of Europe’s Top 10 Casino Tech Solutions Providers in 2024, is set to make waves in the Asian iGaming sector with its groundbreaking standalone product. Making its debut at SIGMA Asia 2024 in Manila, ProgressPlay aims to captivate attendees with its innovative offerings showcased at stand BR917.
With ProgressPlay’s new standalone product, partners are able to market all markets.
SIGMA Asia, slated to run from June 3rd to 5th at Manila’s esteemed SMX Convention Centre, has already generated immense anticipation within the industry. With a diverse array of top-tier B2B and B2C exhibitors, including ProgressPlay, the event promises to be an unrivaled gaming hub, expected to attract over 20,000 delegates.
The Asian iGaming industry is experiencing exponential growth, fueled by technological advancements and a surge in demand for online gaming experiences. With the widespread adoption of mobile devices and digital payment methods, coupled with the popularity of online gaming, the sector presents lucrative opportunities for gaming entrepreneurs seeking to establish their presence across the continent, starting with a standalone solution.
Marina Nahhas, Sales and Marketing Manager at ProgressPlay said: “We are super excited making our debut at SIGMA Asia with our latest products. Our standalone product has huge potential for local markets and the exhibition gives us an excellent opportunity to present it to a large number of potential new customers.”
ProgressPlay’s standalone licensee offering made its debut at ICE back in January, and in this arrangement ProgressPlay serves as the technology provider while partners take charge of all their own operations.
ProgressPlay’s platform has been meticulously developed over the years, boasting a team of top-notch professionals dedicated to serving regulated markets including the UK. The platform is fully equipped to meet all the diverse requirements, many of which are proprietary services developed in-house.
Notably, ProgressPlay’s platform boasts proprietary AI capabilities for safer gambling shortlisted in the EGR Awards, setting it apart in the industry. Moreover, the platform offers unparalleled flexibility, enabling operators to tailor their offerings to specific regions and regulatory requirements. Through a strategic joint venture with a reputable cashier, ProgressPlay facilitates seamless integration of various payment methods, catering to the diverse needs of its partners.
ProgressPlay CEO Itai Loewenstein said:“The biggest advantage of the standalone platform is that it enables operators to have a much wider selection of countries and regulatory territories to choose from based on the licenses they hold and the built-in proprietary cashier that is easily adapted to the relevant markets and payment processors. An additional advantage for operators is the ability to create brands under the standalone platform, which is especially helpful in generating healthy ROI in Asian markets which we will be showcasing on stand BR917 at SiGMA Asia.”
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