Hong Kong Jockey Club Chairman John Chan revealed at a press conference yesterday that, under the impact of the financial tsunami and competition from neighboring areas, betting turnover has dropped by 6.5 percent, year-on-year.

He said that although this probably won't affect the HKJC's pledge to allocate HK$1 billion for charity in the coming few years, it would have a negative impact on its development in the long run.

He called for assistance from the government, including increasing the number of racing days.

(HK Edition 11/04/2008 page1)