Hong Kong Jockey Club surges past EPL and F1 in global sports revenues
HKJC trails only NFL and NBA, as global sports revenues hit a record US$174 billion in 2025, according to a report
The Hong Kong Jockey Club’s (HKJC) revenue in 2025 outstripped global sporting giants including the English Premier League (EPL) and Formula 1, according to a new report.
In a year when the world’s biggest sporting organisations generated a record US$174 billion collectively, HKJC’s US$6.4 billion (HK$50 billion) ranked third globally behind the NFL’s US$14.9 billion and the NBA’s US$8.1 billion.
The top 10 rights holders, including the EPL in fourth on US$5.3 billion and F1 in seventh on US$3.9 billion, accounted for 34 per cent of industry revenue in 2025, up from 30 per cent in 2015, underscoring increasing market concentration.
Compiled by international sports and entertainment marketing firm Two Circles, using publicly available data, the report released last month highlighted an industry it said had expanded at almost “twice the rate of the broader global economy” since 2015.
“The traditional revenue pillars – event-day, sponsorship, and media – still sit at the core of sports commerciality, but they no longer capture the full picture,” the report said.
The positions of the HKJC and US racing group Churchill Downs, which ranked eighth with US$2.9 billion, showed how “these organisations have built meaningful exposure to betting and gaming revenues into their models in a way that has seen their gross revenues materially outpace the market over the past 10 years”, the report said.