Nothing can ever be taken for granted in these challenging times but the last week or so has provided some encouraging signs for Hong Kong as measures to contain coronavirus continue.
A downward trend in infections over the last two weeks is very good news for everyone in the city and gives hope that continued vigilance can help us on the way to a safe and gradual return to something approaching normality.
Racing has been adapting to a new normal for the better part of three months now and, as a longtime Hong Kong resident and someone who helps lead various Club teams, it has been fascinating to observe what can be achieved when everyone involved unites behind the same key objectives.
We still have a long way to go, but with FWD Champions Day on the horizon racing is certainly doing its part in providing compelling narratives for the local and international audience, with Joao Moreira and Zac Purton fighting out a thrilling battle for the jockeys’ title and Francis Lui and Ricky Yiu locked together on 47 winners as they chase the trainers’ championship.
Turnover continues to be very strong given that we are racing behind closed doors with no Off-Course Betting Branches open and the fact that Commingling was up by 35 per cent at Sha Tin on Sunday shows that more and more new fans from around the world are switching their attention to our sport.
These key metrics, especially the global commingling numbers, highlight the amazing resilience of Hong Kong Racing. Travel restrictions mean we will miss international runners and jockeys for Champions Day this year but we still have the most global racing product in the world on a daily basis. Our horses, jockeys and trainers and integrity systems are of the highest standard and we continue to provide by far the most comprehensive information with over 700,000 customers visiting the HKJC website on racedays.
The near future will be very challenging in many aspects. We have seen an unprecedented shutdown of the economy globally which will have significant negative economic impact on industries, consumer spending and, more importantly, on people’s livelihoods.
Racing is sure to be impacted and in some countries the sport’s sustainability is under threat, with significant turnover declines which will not recover short term. Already, we have seen significant cuts in prize money, with some reductions imposed just before the running of international races, and when racing starts again this will be replicated in a lot of countries. Despite massive stimulus packages, job protection schemes and Government subsidies, our turnover, especially in the local market, has been and will be impacted. In addition, the need to close down nearly all physical channels for months will have an impact on customer behaviour. We will also see a decline in number of applications for horse ownerships in these times of uncertainty.
Having said that we have already shown amazing resilience and, with our significant financial reserves, we are better positioned than any other racing jurisdiction to weather this storm and take a more long-term perspective. Furthermore, our global outreach with commingling has made us stronger and will help us grow again when economies begin to recover globally.
Wednesday’s ninth race finale is the Class 2 Cedar Handicap over 1800m which figures to be a slowly-run race with the main chances coming from the back. Easy Go Easy Win and Reliable Team will stride forward to make the running with Private Secretary taking up the box seat from his inside draw. Amazing Beats adds blinkers and will also be close to the early pace.
Many of the top contenders will be ridden quietly, including Enrichment, High Rev and Helene Charisma. Enrichment comes into the race in top form and will be reunited with Moreira for the first time since his lone Hong Kong win in February of last year. Moreira will need to make an early decision on whether to go back or try to slide forward and slot in around midfield, having in mind the tempo of the race. Enrichment is a win and place chance.
Helene Charisma must carry a big weight from his wide draw but he does have a preference to Happy Valley. He will be closing late along with High Rev as a place chance, while Reliable Team is another horse that has performed to a high standard at Happy Valley. He comes off a good effort in the Derby and will be in the mix from the start as a place chance.
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