Macau’s singular horse racing operator, the Macau Jockey Club, published a drop in accumulated losses last year, and progressed with its renovation works of the Taipa-based property, according to its results published in the city’s Official Gazette.

As noted by Macau Business, the losses of the company totaled MOP2.1 billion ($261.4 million) during the year, while just MOP39 million was made by the city’s gaming watchdog within the same period.

The group has announced plans to transform the current race track into a type of attraction, with the group already starting some renovation works, it claims.

“As we enter 2023 with the gradual decline of the pandemic, various regions around the world, including Mainland China, Hong Kong, and Macau, have fully relaxed their entry regulations, and the number of visitors to Macau has multiplied,” notes the publication.

Now the group notes that it is planning go to grab the “golden opportunity” for its diversification, while transforming the venue into a “must-visit tourism and entertainment landmark for both tourists and local residents” and continue to the city’s status as a “World Center of Tourism and Leisure.”