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.
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Asia
Think Tank Advocata Questions Independence and Integrity of Proposed Gaming Regulator in Sri Lanka
Sri Lankan policy think tank has questioned the independence and integrity of the country’s proposed new regulatory body as the government rushes to put the agency in place ahead of next month’s launch of Melco Resorts & Entertainment’s City of Dreams Sri Lanka.
Sudaraka Ariyaratne, Research Consultant at Advocata Institute, said to media that while establishing a regulator was vital to the industry’s long-term future, the planned Gambling Regulatory Authority appears to lack the independence needed to provide proper oversight.
Ariyaratne said: “If you look at the theory of regulation, it is very clear that the regulator has to be an independent body which gives credibility. That is not the case with this Gambling Authority Bill.
“I think the government is trying to push this bill through in a rush because Melco is coming next month. We think Melco would’ve wanted a regulator in place. When it comes to these big names in the gaming industry, the integrity of the market is a big consideration, given the image of the industry, as a whole. They need to sustain a good reputation so that they can attract good customers to whom integrity is important.”
Ariyaratne, who stressed that his think tank supports the idea of a legal, regulated gambling industry, added that the Gambling Regulatory Authority in its current form risks being a proxy for the nation’s Finance Minister.
“Even if it’s not a proper regulator, as long as it gives the perception of integrity, that’s what [operators] are looking for, to engender market confidence,” he said.
“The danger with this bill is that it won’t even give a perception of integrity, if the Minister of Finance can basically do whatever he or she wants.”
Ariyaratne added that Sri Lanka would be better served to withdraw its current bill and resubmit a more comprehensive version.
The post Think Tank Advocata Questions Independence and Integrity of Proposed Gaming Regulator in Sri Lanka appeared first on European Gaming Industry News.
METABORA, a global casual game developer and blockchain project operator, has announced a strategic partnership with LINE NEXT Inc. Through this partnership, METABORA will distribute Web3 games via the LINE Messenger–based Dapp Portal, expanding its reach in the Web3 gaming space.
The Dapp Portal is a platform built on the KAIA ecosystem that offers Mini Dapps (decentralised applications) directly within the LINE Messenger app. Users can enjoy a variety of Mini Dapps—ranging from games to social features—without needing to install separate applications. Since its launch in January this year, the platform has garnered significant attention, surpassing 100 million cumulative users.
Through this new partnership, METABORA and LINE NEXT will work closely to accelerate the growth of the Mini Dapp’s gaming ecosystem. Leveraging its network of development partners and global experience in game development and publishing, METABORA will supply Web3 games to the Dapp Portal. LINE NEXT will expand accessibility to Web3 games and support marketing of these games through its platform.
As part of the collaboration, METABORA will also expand the utility of its BORA token within the LINE Messenger–based Mini Dapp ecosystem. The company plans to implement a payment infrastructure that enables users to purchase in-game items currently planned for upcoming titles to be released under the BORA brand. Additionally, METABORA will apply Gas Abstraction technology, allowing users to make in-app purchases with BORA without needing KAIA tokens to cover gas fees. This feature is expected to be fully implemented in the second half of the year.
By expanding the utility of the BORA token, METABORA aims to elevate its value beyond the confines of the BORA Chain, laying the groundwork for broader integration across the Web3 ecosystem.
In addition, METABORA and LINE NEXT plan to continue their collaboration by researching and developing infrastructure to support the use of stable coins such as USDT, further enhancing the Web3 gaming experience within the LINE ecosystem centered on the Dapp Portal.
Lim Youngjun, Co-CEO of METABORA, said: “We’re pleased to partner with LINE NEXT, a company making remarkable strides in the global Web3 gaming market with its vast user base. Through our strong network of development partners, we will carefully select and bring high-quality games to the Dapp Portal, working together to create a leading example of Web3 gaming reaching a mainstream audience.”
Kim Woosuk, CSO at LINE NEXT, said: “Through this partnership with METABORA, we look forward to creating a major success case for Mini Dapp. Moving forward, we will continue working closely together across multiple fronts, including enabling USDT stablecoin support to improve game onboarding and the overall user payment environment.”
The post METABORA Partners with LINE NEXT appeared first on European Gaming Industry News.
The leading iGaming company, MelBet, has announced Monami Ghosh as its new brand ambassador. With over a decade of captivating performances across films, series and television, Monami now brings her star power to MelBet, ready to entertain and engage players like never before. The collaboration between MelBet and her is a perfect match, combining MelBet’s dynamic igaming platform with Monami’s charisma, talent and star appeal.
MelBet is delighted to have Monami Ghosh in the team and is confident that together they will create a unique experience to please all of the players with unforgettable emotions. Her energy and talent turn every event into a truly spectacular show.
Monami will become the main character of the revolutionary MelBet Night Show. A project that promises to revolutionise the idea of entertainment. Something truly unique and exciting – an experience unlike anything the public has seen before. The players can follow MelBet’s updates on social networks to know about the premieres of the show.
MelBet and Monami are ready to turn players’ everyday routines into a bright adventure filled with passion, excitement, inspiration and unexpected discoveries and pleasant bonuses.
The post MelBet Announces Monami Ghosh as its New Brand Ambassador appeared first on European Gaming Industry News.
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