The Macau Jockey Club has shared its financial results for the year 2020, reporting a MOP1.7bn (US$212.5m) loss.
Macau.- The Macau Jockey Club‘s economic crisis has deepened since the outbreak of the Covid-19 pandemic with its administrator, the Macau Horse Racing Company, revealing a loss of MOP1.7bn (US$212.5m) for the year 2020.
In 2019 the company recorded a loss of MOP1.5bn (US$188m). The Covid-19 pandemic has accentuated the loss.
Angela Leong On Kei, Vice Chairman and Executive Director, stated: “Although the global economy is being impacted by the pandemic, the company is confident that after the situation gets settled it will be able to again focus on increasing the number and quality of its horse races.”
The Macau Jockey Club is one of the largest private employers of Macau with around 800 employees. It was formerly known as the Macau Trotting Club until 1989 when it changed ownership and was transformed into Macau Jockey Club.