Macau Government terminates Macau Jockey Club concession
Tuesday 16 de January 2024 / 12:00
⏱ 1 min read
(Macau).- The Macau SAR Government will rescind the horse racing concession contract with the Macau Horse Race Co., Ltd., which operates the Macau Jockey Club (MJC).
An executive order issued by Chief Executive Ho Iat Seng and published this morning in the Official Gazette indicates that Secretary for Economy and Culture Lei Wai Nong has been granted powers to sign the agreement canceling the concession contract with the horse racing operator.
A press conference on the matter is being held by the government since 11 am.
The Government meanwhile issued a press release announcing that the termination of the contract takes effect on April 1.
MNA has learned that MJC will be holding a press conference at 3pm.
In 2018, the government extended the concession contract of the Macau Horse Race Co., Ltd. until August 2042.
The Macau Jockey Club has been experiencing losses for several years and its financial situation worsened in recent years.
In September 2023, amid rumours that the MJC would close soon, Secretary for Economy and Finance, Lei Wai Nong, emphasised that the Macau Jockey Club and all gaming operators in the city must “diligently” meet their obligations in accordance with legal provisions and the terms stipulated in their concession contracts.
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: EMEA
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