Friday, July 01, 2022

MJC horse racing concession extends to 2042


The Macau government on Wednesday agreed to extend the horse racing concession of the Macau Jockey Club for 24 years and six months, according to Macau’s Secretary for Economy and Finance, Leong Vai Tac.

The renewal will see MJC continue to run horse racing in the city until 31 August 2042. The original concession was set to expire on Wednesday, 28 February.

However, the new concession is said to introduce new rules, including shortening the grace period allowed for the company to pay taxes.

It also stipulates the requirement for the company to invest around MOP1.5 billion (US$186.1 million) in the construction of non-gaming elements and facilities.

Leong said that overall, the concession extension was judged as to help position Macau as a world centre of tourism and leisure.

The secretary added that the promised investment plan would have to be in place according to an agreed schedule, or the concession would be suspended.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

3rd party / Cookies
Show settings
Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief