Last lap for Macau horse racing as authorities, local Jockey Club agree to terminate contract amid financial woes
- Casino hub’s secretary for administration and justice says Macau Horse Racing Company, which runs Jockey Club, has agreed to end concession contract in April
- Operator faces financial difficulties in wake of pandemic, with number of races dropping significantly
Macau will stop horse racing in April after the government and the local Jockey Club agreed to terminate their contract due to the latter’s financial difficulties and struggle to meet social development needs, bringing an end to the sport in the city after more than four decades.
Macau Secretary for Administration and Justice Cheong Weng-chon on Monday said the government had no plans to hold another public tendering exercise after agreeing to terminate its concession contract with the Macau Horse Racing Company, which runs the club. The contract will end on April 1.
“Horse racing activities have been on the decline in many places and some neighbouring countries have also announced plans to terminate their horse racing businesses,” he said.
“The government, after careful consideration, found that the operation of horse racing activities failed to generate the economic and social benefits they should bring and decided against holding a new public tendering exercise after terminating its contract with the Macau Horse Racing Company.”
The contract was extended in 2018 for another 24½ years and would have expired on August 31, 2042.
The minister said the company proposed terminating the contract last year and had cited operational difficulties and the inability of horse racing activities to meet current social development needs.
