Philippine Racing Club, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020 at 03:13 am EST
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Philippine Racing Club, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was PHP 48,907 compared to PHP 28.688 million a year ago. Net loss was PHP 5.727 million compared to net income of PHP 10.524 million a year ago. For the nine months, sales was PHP 24.819 million compared to PHP 87.966 million a year ago. Net loss was PHP 153.151 million compared to net income of PHP 42.383 million a year ago.
Philippine Racing Club, Inc. is a Philippines-based company, which is primarily engaged in the business of operating and maintaining a racetrack covered by its franchise and managing betting stations located within Metro Manila and other parts of the country. The Company is also engaged in acquiring and developing real estate property, including but not limited to leisure, recreational and memorial parks and owning, operating, managing and/or selling real estate. It operates through four segments. Real Estate Operations segment is engaged in real estate business, such as development and sale of land and condominium units. Club Racing Operations segment is engaged in the operation and maintenance of racetracks and holding of horse races. Leasing segment is mainly engaged in the leasing of horse stables, condominium units, and other facilities. Sale of Food, Beverage and Services segment is involved in merchandising operations of food and non-food items, including the related services.
PHILIPPINE RACING CLUB, INC. 
