In this picture taken on March 31, 2016, jockeys gather near the paddock on their horses between night horse races at the Hong Kong Jockey Club in the Happy Valley district of Hong Kong. Photo:VCG

Hong Kong legislator Junius Ho Kwan-yiu on Thursday expressed regret for the losses to the city's horse racing and race fans caused by the cancellation of a horse racing meet.

The Hong Kong Jockey Club announced on its website on Wednesday noon that the evening's races at Happy Valley Racecourse had been cancelled. "In view of the imminent threats to the safety of race-goers, jockeys and employees, and to the welfare of racehorses," the races had to be cancelled, reads the statement. 

The cancellation came after calls for protests at the racecourse and protesters' threat to harm Hong Kong Bet, a horse owned by pro-establishment lawmaker Junis Ho, which was scheduled to race on Wednesday. 

Ho said that horses are innocent and animals also have their rights like humans do. He also declared that Hong Kong Bet would not attend any race before the current social unrest is eased. Ho has been targeted by rioters because of his alleged involvement in an attack on July 21 at Yuen Long. 

Rioters had threatened to besiege the Hong Kong Jockey Club and point laser pens at the eyes of the horse owned by Ho. 

Rioters also demanded the Hong Kong Jockey Club cancel Ho's membership, and threatened to turn the club into a "new battleground" of their anti-government movement. 

Apollo Ng Shung, former president of the Hong Kong Racehorse Owners Association said that the cancellation could lead to a tax loss of HK$100 million ($12.7 million) for the city. 

The Club is the single largest taxpayer in Hong Kong, contributing some HK$13 billion a year to public revenues through direct and indirect taxes and generating on average HK$16.3 billion a year to the Hong Kong economy or 1.3 percent of Hong Kong's GDP, according to the Club's website.

Horse racing has been a popular legal channel of gambling activity among Hongkongers, and the cancellation was first due to recent unrests.

When late leader Deng Xiaoping pushed forward the "one country, two systems" principle for Hong Kong's return to the motherland, he pledged to keep Hong Kong's three capitalistic characteristics - horse racing, ballroom dancing and stock exchanges - intact for at least 50 years after its return. The three lifestyles all enjoyed brisk business in Hong Kong until recent riots. 

Wang Dan, an associate professor from Hong Kong University said that it is ironic that protesters demand "freedom" while denying ordinary Hongkongers the freedom to attend a horse race and express their own opinions.