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Manila Jockey Club reports lower loss for 2Q

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


Manila Jockey Club reports lower loss for 2Q

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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