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

The Macau Jockey Club could receive its deposit back from the government upon satisfying the conditions of its closure, despite the company requesting to close down.

According to TDM Canal Macau, the Macau Jockey Club could receive up to MOP15 million ($1.86 million) from the government, if it abandons the track by the April 1^st, 2025 deadline and if all conditions regarding the transfer of horses and the compensation of personnel are met.

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

The figure is based upon the original deposit made under the monopoly contract signed in 1996.

If the company is unable to meet the deadline for the transfer of the 289 horses, it will be charged MOP1,000 ($120) per day per horse, notes the broadcaster.

Authorities have said that a deal has been brokered to send the horses to mainland China, however numerous owners have also requested to send them abroad – such as to Australia, something the government will allow if all necessary requirements regarding quarantine and hygiene are met.

In the agreement for the cessation of the contract, the Macau Jockey Club can request an extension for the use of the land, which would normally revert on April 1^st, 2025, if valid justifications are given for why the conditions – such as the horse transfer – can’t be met on time.

Horse racing in Macau is over: Jockey Club is not to be used for gaming

Horse racing in Macau brought in just MOP199 million ($24.67 million) in revenue in 2023 – the last full year of its operation, as racing activities will end on March 31^st of this year. The activity has seen a continual decline in revenue over the years.

The Macau Jockey Club in 2018 was handed a 24-year extension to its racing concession, until 2042, but decided to cancel the contract and return the relevant land to the government, amongst mounting losses.

Macau authorities have stated that the company will not be required to pay a fine for the premature cancellation of its concession.

Authorities also assured that the land where the Macau Jockey Club sits would not be used for gaming purposes and that another tender for the concession would not be opened, effectively ending horse racing in Macau.