SBC News Voice of the Sports Betting Industry
Macau Horse Racing Co Ltd, the owners of the Macau Jockey Club (MJC) reported a deficit of $5.2 million (£3.10 million) on MJC 2013 betting operations. The Macau racing operator announced these figures in its annual financial report published this morning.
MJC had decreased its annual losses from $7.5 million in 2012, as financial figures demonstrated an increase in track betting wagering by 2.5% to $45.71 million for 2013. Nevertheless MJC has failed to make profit since 2004, and by the end of 2013 MJC’s combined operational loss had accounted to half a billion US$ Dollars.
Angela Leong On Kei Vice Chairman of Macau Horse Racing Co Ltd, issued a statement that MJC were facing challenging times, however senior management of the race track operator were set to undertake a new commercial strategy focusing on increasing revenues and improving operational margins.
Leong was pleased to announce that MJC had been granted approval by Macau’s Gaming Inspection and Coordination Bureau permission to allow gaming tables at MJC’s premises . MJC further announced that it would look to open a fully serviced casion on its race track.
Leong told local press that MJC would now focus on creating optimal value from its combined casino and track operations, which would make it unique in the region saturated gambling market.
