Jockey Club again posts loss

The Macau Jockey Club posted a MOP17.8 million (US$2.2 million) loss in 2011, according to the company’s annual report, published in today’s Official Gazette. The company has been losing money for several years. The last year that it was in the black was 2004, when its operating profit was MOP52.9 million. The Macau Jockey Club posted a MOP36.3 million loss in 2010. Horse racing in Macau, organised under a monopoly by the Macau Jockey Club, generated gross revenue of MOP440 million last year, remaining stable in comparison with 2010, according to official data.