The Royal Western India Turf Club (RWITC) is staring at a staggering loss of Rs 29.58 crore (unaudited) for the financial year which ended on March 31. The details of the dire financial situation were shared by the management with members of the club in a letter written on Friday, a copy of which is with mid-day.

"All our revenue streams including racing, off course betting, bookmakers, banquets and restaurants that were just beginning to revive, have been forced to close again," the letter stated, and warned that the projections for the year 2021-22 are looking extremely bleak.