Overnight the most comprehensive agreement was signed in China. This was an agreement with the HKJC to create an international standard race program to be launched in 2025 in China. This includes the creation of an iconic international standard racetrack with all the facilities needed to create that environment. The agreement is more far reaching than the race meeting - it also includes the establishment of a complete industry model, all the way down to creating a fodder and grass program using biological remedies.
I've been watching the Chinese influence in the race ownership over the years. Extensive ownership entities have been registered, including partnerships with the largest equine owners over the planet. The most prominent of these being the China Horse Club. This has given those owners access to the machinations of the leading stables, in particular their management processes. A number of Chinese personnel are now involved in different levels of the sport over the globe.
The World Tote is also part of this gradual quest for involvement in the sport. Based in Hong Kong, the World Tote has signed agreements with a number of tote operators throughout the World, including the UK Tote. This saw betting revenue on the Royal Ascot Races increase from 3m odd quid to 19m quid. The Chinese were not legally allowed to bet on these races until this agreement was reached.
An interesting sign of the times...