Last Updated 24 Jun 2020

Hong Kong Jockey Club

Category Gambling, Hong Kong
Essay type Research
Words 447 (1 page)
Views 223

1. The HK Jockey Club’s stakeholders are as follows: (1)The government. The HK Jockey Club, as a large single taxpayer, could contribute to the government’s fiscal revenue. (2)Hong Kong charities. The HK Jockey Club gives annual donations on which many Hong Kong charities depend. (3)The citizens of Hong Kong. The HK Jockey Club would allocate operational surpluses to support the social and civic needs related to the community services, education, medical and health. (4)The employees. The state of business of HK Jockey Club would affect the wellbeing and the salary of the employees. 5)The customers and the club members. The actions taken by the HK Jockey Club could influence or be influenced by the racing and betting public, the lottery players and the club members. 2. The challenges faced by the HK Jockey Club as it engages in CSR initiatives are as follows: (1)The HK Jockey Club regularly consults the government about the community needs when deciding the distribution of the donations; however, the Club sometimes receives the criticism for the allocation of donations. 2)How the HK Jockey Club expands its gaming business on Mainland China without violating the Chinese law in terms of gambling. (3)How to make use of the launch of an Individual Visit Scheme and the recovery of the economy in HK to upturn the betting turnover proportionately. (4)Although the move of legalizing football betting could reduce illegal bookmakers, increase the tax revenue and advance charitable funds, it potentially encourages gambling among youth. The operation of football betting may cause problem and pathological gambling. 5)The public does not well recognize the status of the Jockey Club as not-for profit. People are not aware of the charitable investments conducted by the HK Jockey Club 3. (1)The Jockey Club should conduct several researches before the enhancing of the racing product or the regulatory change. Specifically, the Jockey Club could survey the public opinion toward the plan and consult the government, the club members and the employees to evaluate the plan feasibility. In addition, the Jockey Club could compare its situation with that of other countries that encounter with similar issues to assess the ethical mplications. (2)The Jockey Club should stop the plan or transform the marketing strategy if it does not comply with the domestic or foreign legislation. The Jockey Club should not only uphold the rule of law in Hong Kong, but also respect the legislations in other countries. Moreover, the Jockey Club should provide sufficient education for the public especially the youth about the improvement of the racing product to avoid problem and pathological gambling. Furthermore, the Jockey Club could cooperate with the government to raise the public vigilance of the illegal or unauthorized gambling.

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Hong Kong Jockey Club. (2017, Feb 19). Retrieved from https://phdessay.com/hong-kong-jockey-club/

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