Hong Kong Jockey Club Hit By Financial Disaster
This natural phenomenon was reported on Thursday, in a Hong Kong observatory, and at that time wasn’t a typhoon yet. However, since then, the tropical phenomenon has transformed into a typhoon.
The Jockey Club has since had to cancel a okanned event, due to the implications of the typhoon as soon as it hit Hong Kong. The Jockey Club will now attempt to move the dates to October, which is currently free.
Bill Nader, The executive director of racing, had strongly suggested that it was difficult to cancel the event, as the racing may have completed before the typhoon came.
In the same event last year, the race meeting produced more than HK$1.2b in turnover in just the opening day. This year may see that rise due to an increased trend with turnover.
Nader said: “Our advice was that the Typhoon 8 signal would probably go up some time around eight o’clock tonight, after the meeting was over,” he said after the cancellation was confirmed just after 7.30 am this morning.
“But the risks are too great to go ahead. There’s a problem if the signal goes up earlier, and you have the issues of people being able to get home safely. We were forced to call it and the right call is to cancel.”
This hasn’t been the first time that a natural disaster has cost the club, as there have been 7 other disasters that have occurred since 2002.
It was possible that the racing could be moved to as early as next weekend; however there were too many implications for it to be made.
On this issue, Nader added: “We have National Day on Tuesday week and probably Saturday could have been considered but the problem with that is that we expect the worst of this typhoon to hit on Monday,”
“That means problems with reopening entries and getting everything organised in time. And a meeting next weekend would also have been taxing for Sha Tin itself, staging 30 races in eight days is tough on the track. We had October 30 left open as a weather contingency date so we’ll use it.”