“You have to understand who the customer is, what they want, and then give them what they want. We are constantly surveying and studying our customers, and we have to stay ahead of the competition. If you’re not concerned about competition, you’ll get into trouble.”

The above quote is from Hong Kong Jockey Club Chief Executive Winfried Engelbrecht-Bresges, speaking about just some of the keys to operating a successful gaming venture. With the international success story that is the Hong Kong Jockey Club is, it's not like the Jockey Club's top dog is just blowing smoke, either.

His quote came in a piece late last week by The New York Times, which, in addition to promoting some major weekend stakes tilts, indicated that gaming operators understand their product, their customers, and what it takes to stay on top.

The report states that the Jockey Club has embraced transparency, has been able to engage the coveted 25 to 45-year-old demographic, and is fully aware of the importance of horse owners.

Engelbrecht-Bresges was quoted as saying, “Transparency is the key to creating confidence in betting,” and that “Owners are the lifeblood of racing. You want owners to want to bring their friends. And you want them to have an experience to match the amount of money they’re spending.”

(With files from The New York Times)