For decades, the Hong Kong Jockey Club has been at the peak of politics, business and society in one of the world's richest cities. But a scandal over allegations some were willing to bribe their way into the club is casting an unflattering light on the prestigious institution.

In this status-obsessed city, clubs are at the centre of high society. But the Jockey Club, established in 1884 under British rule, stands apart from the pack as a money-making machine. Through a government-granted monopoly on horse racing and lotteries, the club, a nonprofit organisation, is Hong Kong's single-biggest taxpayer, accounting for roughly 8% of the government's revenue, according to the organisation's annual report.