New business strategies to save Macau racing industry

Angela Leong On Kei, vice chairperson of Macau Horse Racing Co. Ltd is hoping for new business strategies which could alleviate pressures from declining revenue at the Macau Jockey Club, Macau TDM reports.

At the sidelines of a public event on Sunday, the racing executive said revenues have been decreasing as a result of the overall economic environment.

“We have given certain pressure to the Club’s chief executive, telling him to… think about how we can introduce more diversified offers to improve the revenues,” said Leong.

“We hope to bring out more activities as well. But currently, we haven’t come up with a certain proposal,” she added.

According to the Gaming Inspection and Coordination Bureau (DICJ), the Macau Jockey Club reported only MOP 36 million (US$4.5 million) in gross revenue in 16Q1, down 33 percent year-on-year compared to 2015.

On a similar note, Macau’s greyhound racing industry has also been under pressure from declining revenues.

Earlier this month, locals and experts called for the closure of Macau Canidrome, saying it is out-dated and unprofitable, local media reports.

The Macau Canidrome is the only greyhound racetrack in operation in Asia, which has seen revenue and profitability declining over the years.

“Times have changed. The Canidrome doesn’t have a reason to exist anymore. It doesn’t produce profit, so it doesn’t make sense,” said lawyer and president of the community group Associação dos Macaenses (Macanese Association), Miguel Senna Fernandes in a quote to Lusa.

Last month, it was revealed that  Yat Yuen Canidrome Co. may not have its concession renewed, as it has become “more and more difficult” to import greyhounds to Macau, and that is a “crucial” aspect for the government to consider when deciding whether to renew the contract of the Canidrome.

Angela Leong is also the managing director and deputy president of the Canidrome.