The MJC has announced a 30 per cent reduction in horse betting prize money.<\/p>\n\n\n\n\n\n\n\n
Macau.- The Macau Jockey Club has announced a 30 per cent reduction in horse betting prize money from Saturday (November 18).\u00a0The announcement conveyed through a letter addressed to club members and horse owners has been reported by the public broadcaster TDM Canal Macau.<\/p>\n\n\n\n
The letter cites the club’s below-expectation betting turnover as the reason behind the adjustment. MJC finances have been declining since 2005. In June, it reported accumulated losses of MOP2.1bn (US$261.4m) for the year 2022<\/a>.<\/p>\n\n\n\n Challenges were exacerbated by the pandemic. Gross revenue in the first nine months of the current year was MOP32m (US$4m), up 14 per cent from the same period in 2022 but only 43 per cent of pre-pandemic levels in 2019.<\/p>\n\n\n\n In September, the MJC announced that the Gaming Inspection and Coordination Bureau (DICJ) had approved its\u00a0proposal for the 2023\/24 horse racing season<\/a>. There had been uncertainty after it was announced that the Singapore Turf Club would close by March 2027<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The MJC has announced a 30 per cent reduction in horse betting prize money.<\/p>\n","protected":false},"author":176,"featured_media":14228,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Macau Jockey Club (MJC) has announced a 30% reduction in horse betting prize money, effective November 18, citing persistently below-expectation betting turnover and significant accumulated losses. This operational adjustment reflects the club's long-term financial decline, exacerbated by the pandemic, despite a recent 14% year-on-year gross revenue increase that remains significantly below pre-pandemic levels.","focusai_entities":"Macau Jockey Club, TDM Canal Macau, Gaming Inspection and Coordination Bureau (DICJ), Singapore Turf Club","focusai_location":"Macau, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.85), investor_analyst (0.9), gambler_consumer (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"MJC Viability Outlook","query":"What are the long-term viability projections for the Macau Jockey Club given persistent GGR declines and accumulated losses, and what further operational or regulatory interventions might be anticipated?"},{"label":"Regional Racing Impact","query":"How does the MJC's financial distress and prize money reduction, coupled with the Singapore Turf Club's closure, reflect broader regional trends in the horse racing and betting vertical, and what are the implications for other Asian jurisdictions?"}],"footnotes":""},"categories":[157,16338],"tags":[233],"class_list":["post-777011211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011211"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011211\/revisions"}],"predecessor-version":[{"id":777040942,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011211\/revisions\/777040942"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14228"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}