The Macau Jockey Club is facing hurdles, as it has been prohibited from accepting bets from abroad – from regions such as Australia, Singapore, Malaysia and Hong Kong.
According to TDM Canal Macau, various sources have confirmed that this is one of the numerous issues the Macau Jockey Club is facing, possibly even leading to its eventual closure.
The broadcaster notes that the Jockey Club’s monopoly contract (renewed inexplicably in 2018), valid until 2042, includes requirements for the operator to build new commercial areas and restaurants, two hotel blocks and two apart-hotel blocks, a theme park and a tennis court and an equestrian school.
Some of these works are supposed to be finished by 2024, while others have an end date of 2026.
But sources told the broadcaster that none of such large-scale construction works are currently underway.
If the company, led by former gaming magnate Stanley Ho’s wife Angela Leong, fails to abide by the contract, it could see its monopoly cancelled and even have its land revert back to the government.
In addition, the Macau Jockey Club has recently had the import of horses from Australia cancelled by the local authorities, with some 30 horses awaiting embark in the country – possibly as a consequence of not abiding by the concession contract.
However, the new racing season has been approved, starting on September 29th.
The company has pledged some MOP1.5 billion in investments into the new changes at the Macau Jockey Club, however it’s uncertain exactly how much has so far been injected into revamping one of the city’s oldest sports betting institutions.
