Macau Jockey Club concession to end on April 1

Macau Horse Race has decided to end its public concession to run horse racing in the city due to a decline in popularity and operational difficulties.

Macau.- Authorities in Macau will rescind the horse racing concession contract with Macau Horse Race, the company which operates the Macau Jockey Club (MJC), on April 1. 

The secretary for Administration and Justice, André Cheong Weng Chon, announced the termination during a press briefing, revealing that the company, facing operational challenges, had voluntarily requested contract termination. 

Citing a decline in the sport’s popularity and its misalignment with the city’s social development, the government, after careful consideration, accepted the request.

Upon contract termination, the land plot and associated facilities will revert to the government at no cost, with all overdue tax payments settled by the company. 

The reclaimed plot will be designated to the government’s land reserve, and a subsequent study will determine its usage, explicitly ruling out casino gaming. Secretary Cheong emphasized that no new public tender will be issued for horse racing concessions in Macau.

Doubts about the future of the MJC have begun to emerge following the announcement that the Singapore Turf Club will close by March 2027. 

The MJC, however, had secured a 24-year extension to its concession licence in 2018. This extension carried pledges to invest in infrastructure enhancements and diversification initiatives, including the development of commercial spaces, hotels, theme parks, and more. 

In 2022, the MJC reported a loss of MOP2.1bn (US$261.4m), up from MOP1.9bn (US$240m). The impact of the Covid-19 pandemic and associated travel restrictions was cited as a contributing factor. 

The financial situation improved slightly in the first months of 2023. However, this was not enough for the industry to move forward. Last November, it was revealed the MJC was also contemplating a reduction in horse races after reversing a move to cut prize money. 

Macau Horse Race has decided to end its public concession to run horse racing in the city due to a decline in popularity and operational difficulties. Macau.- Authorities in Macau…