The Hong Kong Jockey Club, a major betting operator, had initially earmarked HK$1 billion to develop a basketball wagering system. However, plans have been halted by the government, forcing a potential shift in its investment focus.

Hong Kong’s sole legal betting operator had earmarked HK$1 billion (US$127.7 million) and hired 180 people to develop a basketball wagering system, but will now take a financial hit after the government announced this week it was halting plans for its roll-out, a source has said. The source close to the Hong Kong Jockey Club told the South China Morning Post on Wednesday that it had already invested HK$400 million for preparatory work, including setting up a dedicated basketball betting system,....