The Jockey Club has reacted angrily to suggestions it pay higher tax on its football betting operation, claiming the "theoretical" HK$6 billion rise in duty payments would "create irreversible damages to Hong Kong". "The first time, Winfried Engelbrecht-Bresges [the club's CEO] came along with a few senior members, they were saying it was not impossible to raise the tax, but they suggested legalising basketball, golf betting among other sports," Ip said. "They are not against the proposal in principle, they just want to have more legalised sports betting. " 8 billion. Arguing against any tax increase, the club claimed it would be the charities that depend on it for funding that would suffer, saying operating revenue would plunge 40 per cent resulting in a "zero surplus at best or more likely a negative one". " "
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