Macau Horse Racing to End as Jockey Club Calls it a Day

The Macau authorities has proclaimed the expiry of its declaration with the Macau Jockey Club (MJC), in effect conclusion horse racing inwards the gaming hub.

Secretary for Administration and Justice Cheong Weng Chon told reporters this hebdomad the termination was by mutual consent and would live efficient from Apr 1. The Macau Horse Racing Company, which runs MJC, had been experiencing financial difficulties since the pandemic. It asked the regime to live freed from the declaration lastly year.

Cheong cited the “impossibility of positioning Equus caballus racing activities with the current developmental needs of society.”

“Considering that these activities feature progressively missed their invoke to local residents and tourists inward recent years, the government, after thorough research, decided to take the diligence from the Macau Horse Race Company,” he said Monday.

The dry land currently occupied past the club, including the Taipa Racecourse, will follow returned to the government, which has no plans to offering tenders for racing inward the future.

Financial Trouble

The committal to writing had been on the fence in for some time. In 2022, the social club reported accumulated losses of US$261 million, and it had lately been forced to shave the number of races from 15 per day to simply fin because of its weak financial position.

Despite the diminishing popularity of Equus caballus racing inwards the gaming hub, MJC remains one Macau’s biggest buck private employers with around 800 full-time workers and 300 part-timers. The governing said these employees would incur severance make up in accordance of rights with the law.

Meanwhile, MJC has agreed to ship its horses to other locations by March 31 next year.

The jockey society signed a 24-year get with the governing in 2018. At the time, it sworn to invest millions into improving base and expanding its offerings, none of which materialized.

Cheong said the government activity would now conduct search on possible uses for the facilities. Lawmakers hold antecedently raised the possible action that the track could follow transformed into a bowl for international sports events.

44-Year Monopoly

MJC has held the scoop rights to offer up Equus caballus racing and Equus caballus betting inward Macau since its shaping in 1980. The gild was initially formed as the Macau Trotting Club with the take aim of popularizing rein racing inwards Asia. But rein in racing failed to use up off in the region and the club pivoted to thoroughbred racing.

In 1991, it was acquired past the Macau Horse Racing Company, a consortium led past tardily play tycoon Stanley Ho, who held the casino monopoly inwards Macau until 2002.

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