The move follows protests from employees over a decision to cut prize money.<\/p>\n\n\n\n\n\n\n\n
Macau.- The Macau Jockey Club (MJC) is reportedly contemplating a reduction in horse races after reversing a move\u00a0to cut prize money<\/a>. A proposed 30 per cent reduction in prize money, intended to commence last Saturday, prompted protests from trainers and jockeys, whose income is linked to race outcomes.\u00a0<\/p>\n\n\n\n According to Asia Gaming Brief, MJC’s accumulated losses in 2022 were MOP2.1bn (US$260.2m). Horse racing revenues fell from MOP47m in 2021 to MOP39m (US$4.8m). 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 proposal 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 move follows protests from employees over a decision to cut prize money.<\/p>\n","protected":false},"author":176,"featured_media":17888,"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) is contemplating a reduction in horse races following employee protests over a reversed decision to cut prize money. The club faces significant accumulated losses of MOP2.1bn in 2022 and declining horse racing revenues, despite recent gross revenue growth. This situation unfolds as the MJC secured regulatory approval from the Gaming Inspection and Coordination Bureau (DICJ) for its 2023\/24 season, amidst regional industry shifts.","focusai_entities":"Macau Jockey Club (MJC), Asia Gaming Brief, 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 (0.7), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"MJC Financial Viability","query":"What specific governance frameworks will the DICJ implement to ensure the Macau Jockey Club's long-term financial viability and prevent further accumulated losses, given the proposed race reductions?"},{"label":"Labor Relations Impact","query":"How will the reversal of prize money cuts and potential race reductions impact the MJC's labor relations and operational efficiency, particularly concerning trainer and jockey retention and overall racing product quality?"}],"footnotes":""},"categories":[16338,155],"tags":[233],"class_list":["post-777011369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-sports-betting-news","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011369","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=777011369"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011369\/revisions"}],"predecessor-version":[{"id":777040910,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011369\/revisions\/777040910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17888"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}