Trainers and jockeys at the Macau Jockey Club (MJC) were on the verge of striking in response to a recent announcement of a 30% reduction in prize money. The move was attributed to the club’s financial challenges, raising concerns about its sustainability. However, following a meeting between MJC management and racing stakeholders, the decision to cut prize money was temporarily delayed just before the scheduled race meeting on 18 November 2023.
Background on Prize Money Reduction:
MJC had previously declared a 30% reduction in prize money, effective from 18 November 2023, citing below-expectation betting turnover over the years. The decision triggered discontent among trainers and jockeys who rely on prize money for their income.
Strike Threat and Open Letter:
In response to the prize money reduction announcement, some MJC staff issued an open letter to management on 14 November, expressing their intention to strike if the decision was not reversed. Trainers and jockeys emphasized the serious impact on their livelihoods, prompting them to contact government authorities, including the Macau Chief Executive and relevant bureaus.
Resolution and Temporary Reprieve:
Facing the imminent threat of a strike, MJC held discussions with trainers and jockeys on 17 November, resulting in a decision to maintain the existing prize money structure for the race meeting on 18 November. While this provided a temporary reprieve, there are rumors circulating about potential race reductions from five to either three or four on each race day starting December.
Industry Stir and Government Concerns:
The actions of trainers and jockeys have stirred concerns within the industry, with reports suggesting that the government is closely monitoring the situation. The unresolved challenges at MJC, including financial difficulties and betting turnover decline, have raised questions about the club’s long-term viability.
Industry Speculations and Government Involvement:
Speculations suggest that MJC might consider reducing the number of races from December onwards, potentially cutting down to three races per day. The government’s deep concerns about the situation add an additional layer of complexity to the challenges faced by MJC.
The temporary resolution of the prize money reduction issue at MJC provides a momentary reprieve, but the underlying challenges, including financial instability and industry discontent, remain. The potential reduction in the number of races and the government’s vigilance underscore the uncertain future for MJC and its stakeholders. The evolving situation will continue to impact the racing industry in Macau, requiring careful consideration and collaboration among all parties involved.