Struggling Macau Jockey Club Turns to Mobile Betting
Aug 29, 2013
MJC mobile betting
Mobile and Online could arrest MJC’s slide towards bankruptcy.
The Macau Jockey Club has announced the closure of four off-track betting operations as its financial troubles continue. Despite announcements that the closure’s were to meet “the needs of the community”, the MJC’s $7.2 million loss in 2012 may have had something to do with the decision. Instead, the company is turning to mobile sports betting to offset these continuing losses.
Macau is one of the world’s largest casino markets, so it’s no surprise that betting on horses is taking a bit of a kicking. In fact, with latest casino gambling news reporting ever increasing profits for Macau’s brick and mortar casinos, it would be a tough job for anyone to turn this around, never mind the MJC.
So this change of direction towards phone, iPhone and Android racing development is a welcome one for anyone interested in MJC’s future. With government responsible betting directives coming into play, if the launch of new mobile services is successful, the MJC could see a return to profit – or maybe just an arrest of their slide towards bankruptcy – for the first time in a decade.
Phone based bets accounted for 40% of MJC’s income last year, but it is online that perhaps needs the greatest work, accounting for just 6% of bets. That was up a massive 82% on the year before, too, so the MJC has definite areas for growth. They need to do so quickly, though, as their monopoly on horseracing expires in 2015.