Macau Jockey Club Narrows Losses

Macau Horse Racing Co Ltd., which runs the Macau Horse Racing Club, cut its losses in 2013. The company posted a MOP loss of $41.4 million ($5.2 million) last year, according to a summary of its annual report published in the Official Gazette on Wednesday.

The company cut its annual losses from MOP 57.7 million in 2012. Official figures show that horse racing betting revenue rose 2.5 percent to MOP 365 million in 2013.

Macau's Jockey Club last made a profit in 2004, and by the end of last year had accumulated losses of about 3.8 billion.

The company is expected to improve earnings this year after reopening its premises casinos operated under the SJM Holdings Ltd gaming license. The casino operator has asked the city's Game Inspection Coordination Bureau for permission to transfer some game tables to the Macau Jockey Club. The casino has been closed since 2004.

Angela Leon On Kei, executive director of SJM Holdings, is vice president of the Macau Horse Racing Board.

Macao's dog race track operator Yat Yuen Canidrome Co Ltd. also reported its 2013 earnings Thursday. The company, which holds the exclusive right to bet on greyhound racing, posted a profit of MOP 70.4 million in 2013, according to publicly disclosed financial data. Sociedad de Turismo Divers o ̃ de Macao SA, a private company founded by SJM Holdings Chairman Stanley Ho Hong Sun, is said to be the largest shareholder of Macao's Canidrome.

However, the dog track operator's latest revenue fell 17.2% year-over-year as bets fell for the third straight year. Official data showed that in 2013, Macau's greyhound race revenue fell 13.2% to MOP178 million. The company now has six off-course betting centers.

In a report on Wednesday, Leung, who is also a director at Macau (Utween) Canidrome, said the company was facing tough times. Leung said in the report that the operator would update its betting system this year and introduce other upgrades to its products.

BY: 슬롯사이트