Hong Kong Jockey Club seeks speedy law change to curb competition

HONG KONG (AFX-ASIA) - The Hong Kong Jockey Club said swift action must  be taken to plug legal loopholes in Hong Kong's gambling law to prevent large  sums leaving the SAR via illegal offshore bookmakers. 

	    Club director Kim Mak said unless amendments are made to the gambling  ordinance, Hong Kong will be subjected to "unlimited, unregulated and  uncontrolled gambling."

	    The club runs a legally protected horse gambling monopoly. 

	    Mak said last year, illegal and offshore gambling on overseas horse races  and soccer matches amounted to 80 bln hkd.

	    The club had revenue of 83 bln hkd in the period. 

	    Mak said that by reducing its protected gambling revenue, illegal and  offshore bookmakers threaten a major source of government revenue as well as  charitable donations.

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