The Macau Horse Racing Company has announced that its revenue losses has ballooned by 72.3 percent in 2015.

According to a notice published in the Official Gazette, the company—which runs the Macau Jockey Club—said it lost more than MOP88 million (USD11.1 million) last year, a huge spike compared to the MOP51.2 million deficit the company reported in 2014.

The last time the Macau Jockey Club made profit was in 2005, Macau Business Daily reported, and the horse racing company’s losses are inching closer to MOP4 billion.

Gross gaming revenue from horse race betting in Macau dropped by 45.6 percent year-on-year, reaching MOP166 million last year, data from the Gaming Inspection and Coordination Bureau showed.