Monday, June 24, 2024

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Macau Jockey Club land officially reverts to the government

The Macau Government has officially recovered the 363,192-square meter land plot used by the Macau Jockey Club, shortly after the exploration concession reached its newly set termination deadline.

Macau Jockey Club pressures owners to give up horses ‘for free’, no compensation offer for sudden closure

The Macau Jockey Club (MJC) has told horse owners they could either give their horses to the racing operator without any type of compensation or face monthly charges to keep the horses at the venue until they can find suitable transport to other locations.

Macau Jockey Club could receive up to $1.8M from government: report

The Macau Jockey Club is eligible to receive its $1.8 million deposit back from the government, despite cancelling its concession contract early.

Not horsing around: Macau Jockey Club admits to “always operating at a loss” amongst closure

After the announcement by the Macau government that the Macau Jockey Club was going to close doors, and that horse racing was effectively terminated in the SAR, the company has come forward to explain the decision, noting that they were "always operating at a loss", totaling some MOP2.5 billion ($310 million).

Gov’t planning to revoke current Macau Jockey Club concession

The Macau Government is planning to terminate its concession contract with the company responsible for the Macau Jockey Club's horse racing operations.

Macau Jockey Club allegedly going to cut races starting next month

Embattled Macau Jockey Club (MJC) is allegedly planning to reduce the horse races starting in December.

Financial struggles prompt Macau Jockey Club to slash prize money by 30 percent: report

According to a report from public broadcaster TDM Canal Macau, the Macau Jockey Club (MJC) has recently informed its club members and horse owners about a 30 percent decrease in horse betting prize money, which will take effect from this Saturday.

Macau Jockey Club will have to fulfill concession contract requirements: Secretary

Macau's Secretary for Economy and Finance, Lei Wai Nong, said Wednesday, when commenting on the recent discussion concerning the future of the Macau Jockey Club, that "operators must perform their obligations strictly in accordance with the requirements of the law and the concession contract".

Gov’t approves Macau Jockey Club 2023/2024 race season

Following weeks of public discussion surrounding its future, the Macau Jockey Club has seen its 2023/2024 race season schedule approved by local authorities.

Avoiding Macau Jockey Club closure a “crucial issue” for local tourism attractiveness: researcher

The Macau Jockey Club can still contribute to the SAR's overall tourist attractiveness and its financial woes should be considered a critical issue for the city, University of Macau Faculty of Business Administration associate professor, Ricardo Siu told AGB.