The year was among the best the Hong Kong Jockey Club has experienced in 160 years of racing. The racing was again of a high standard, and the club, which has 'racing for charity' as its motto, gave more than $1 billion to charitable causes — for the 12th successive year.

    The highlight was the Hong Kong International Races 2002 held in December. Of the four International Races on the card, three were won by Hong Kong horses. All Thrills Too ran away from the field in the Sprint, while Olympic Express narrowly defeated another local horse, Electronic Unicorn, in the stirring Mile. Capping the day, Precision won the Cup in the final few strides as a world television audience watched in 60 countries.

    The Jockey Club significantly enhanced facilities at both Happy Valley and Sha Tin racecourses during year, adding food halls and 'media halls' at both courses where race-goers watch the events and place wagers without leaving their reserved seats. Plans are moving forward for placing a retractable roof over the Sha Tin Paddock and also to build the world's largest racecourse Diamond Vision Screen at the course, larger than one already in Happy Valley.

    In its financial year ended in June, the club donated $1,065 million to 147 charities and community projects, despite a dip in betting turnover. The club paid betting duty of $10,503 million in horse racing and just over $1,000 million in Mark Six lotteries, which amounted to around 11.5 per cent of taxes collected by the Inland Revenue Department in 2001–02.

    In November, the Government announced it proposed to authorise and regulate soccer betting in Hong Kong, and designated the Hong Kong Jockey Club as the operator. The Government proceeded to draw up details of the operational and regulatory framework, with a view to introducing the necessary legislative amendments into the Legislative Council in 2003.