Manila’s Jockey Club made a profit of $2.1 billion ($48.2 million) in 2013, up from $17.3 million a year earlier, the company said on Monday, mostly from a group of investors injecting capital into its real estate development arm, MJC Investment Corporation (MIC).
“This change is primarily due to the recognition of control gains from the remeasurement of holdings in MJC Investments Corp MIC,” the company said.
According to the Jockey Club’s website, the company operates a casino called Pagcor Club San Lazaro (pictured) under the license of the Philippine Entertainment Gaming Company. It operates a game pit and a VIP Club at the club’s racetrack in San Lazaro Leisure Park in Manila’s Cavite district.
The Manila Jockey Club said it earned $27.9 million in PHP rent for 200 slot machines and the network systems that connect them. The slot machines are leased through one of its subsidiaries, New Victor Technologies. In return, NVTL has the right to receive 35% of casino revenue.
Alfonso R. Raynaud Jr., president of the Manila Jockey Club, won reelection last month.
BY: 카지노사이트 모음