Manila Jockey Club reports lower loss for 2Q

Aug 18, 2014 Newsdesk Latest News, Philippines, Top of the deck  

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The Manila Jockey Club Inc reported a net loss of PHP11.7 million (US$268,000) for the second quarter of 2014, an improvement from a loss of PHP43.4 million a year earlier, the company said in a filing to the Philippine Stock Exchange.

Revenue for the period was PHP91.4 million, down by 14 percent in year-on-year terms.

The firm posted a net loss of PHP16.4 million for the first half of the year compared to a net loss of PHP68.2 million one year earlier.

The company said it recorded a decline in revenue generated by its casino operations during the period, but did not provide a breakdown of the figures.

The Manila Jockey Club operates a casino called Pagcor Club San Lazaro (pictured) under a licence from the Philippine Amusement and Gaming Corp, at the club’s racetrack at San Lazaro Leisure Park, according to the jockey club’s website.

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