An executive order from Macau’s Chief Executive, Ho Iat Seng, gazetted on Monday and in force from that day, says the government is preparing to terminate Macau Horse Race Co Ltd’s monopoly public concession to run horse racing in the city.
The order gives the city’s Secretary for Economy and Finance, Lei Wai Nong, the powers to represent the government in an agreement to effect such a termination. The order did not say from what date the termination would take place. The Macau government is hosting a press conference today, about the horse racing concession.
In February 2018 the company had been given an extension of its horse racing betting concession for a period of 24 years and six months, i.e., until 2042. Racing was done via the Macau Jockey Club grounds at Taipa.
A condition was that the firm should invest MOP1.5 billion (US$186.2 million currently) in improving the facilities at the club venue and increasing non-gaming facilities.
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