Macau Jockey Club permanently cancels plan to reduce prize money

Gaming

Macau Jockey Club permanently cancels plan to reduce prize money

Thursday 30 de November 2023 / 12:00

2 minutos de lectura

(Macau).- The Macau Jockey Club (MJC) has permanently withdrawn a plan to reduce the prize money it offers its trainers and jockeys.

Macau Jockey Club permanently cancels plan to reduce prize money

In a written statement sent to Inside Asian Gaming this week in response to questions, MJC said it has “decided to follow good advice and cancel the adjustments to the prize money and the schedule of the event.

“MJC will pay close attention to the valuable opinions of horse owners and employees and work together to promote the development of the horse racing industry.”

As previously reported by IAG, MJC recently announced plans to reduce prize money by 30% due to “below expectation betting turnover” in recent years but was forced to postpone any such reduction after trainers and jockeys threatened to strike.

Some MJC staff had also penned an open letter to management noting that trainers and jockeys rely on such prize money for their income, and that any downward adjustment would have an “extremely serious impact on their livelihood, coupled with the fact that all the staff concerned are the mainstay of their family’s livelihood and income, making the situation a very serious one.”

This latest decision by the MJC to permanently suspend the prize money reduction comes despite it having reported in June accumulated losses of MOP$2.1 billion (US$260 million) through 2022, representing an increase in losses of around MOP$200 million (US$25 million) over the previous 12 months.

Categoría:Gaming

Tags: Sin tags

País: Macao

Región: Asia