• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Macau Jockey Club concession extended to 2042: govt

Feb 27, 2018 Newsdesk Latest News, Macau, Top of the deck  


Macau Jockey Club concession extended to 2042: govt

The Macau Horse Race Co Ltd, which runs Macau Jockey Club, is to get an extension of its horse racing betting concession for a period of 24 years and six months. A condition is that the firm should invest MOP1.5 billion (US$186 million) in improving the facilities at the club venue and increasing non-gaming facilities.

So said Macau’s Secretary for Economy and Finance Lionel Leong Vai Tac to reporters at an event on Tuesday. The firm’s rights to run horse racing had been due to expire on February 28. They will now run until August 31, 2042, according to the official.

“The investment [of Macau Jockey Club] is to be realised in phases throughout these 24 years. For each of the phases, we’ll examine if they are investing as they have committed to. Only on the condition that the shareholders realise the investments… are we renewing their [concession] term,” Mr Leong told reporters.

The Macau Horse Race Co has held the monopoly on horse racing betting since 1978. But the firm – which last made a profit in 2004 – had accumulated losses of more than MOP4 billion as of the end of 2016, according to the firm’s 2016 results, the most recent filed in Macau’s Official Gazette.

In August 2017, Macau Jockey Club received a six-month extension for its concession, after it submitted development plans for the club to the Macau government, according to local media reports.

“We hope that with this relatively large investment input that they have pledged, they [Macau Jockey Club] can turn around their business situation as seen previously. More importantly, their existence can play a positive role towards Macau government’s goal to diversify gaming offerings and non-gaming elements here,” Mr Leong said.

Angela Leong On Kei – an executive director of Macau casino operator SJM Holdings Ltd and a Macau legislator – is vice president of the board of Macau Horse Race Co. Within the perimeter of the horse racing facility in Taipa there is a casino licensed by SJM Holdings, which is housed inside the Macau Roosevelt Hotel.

Speaking at a separate event to that attended by Lionel Leong, Ms Leong told reporters on Tuesday that the Macau Horse Race Co is investing more than MOP2 billion in increasing non-gaming elements for the horse racing club site – namely a plan to build an equestrian school, a playground, a hotel and a mall.

Gross revenue from horse racing betting in Macau dropped by 26.2 percent year-on-year in 2017 to MOP104 million, data from the city’s gaming regulator shows. Betting volumes contracted by 27 percent during the period, to MOP517 million.

As of calendar year 2017, horse racing betting accounted for only 0.04 percent of Macau’s overall gross gaming revenue. Most of the aggregate comes from the casino industry. Other non-casino segments are greyhound racing betting; sports betting; and lotteries.


  • tweet
Related articles
  • Macau-Hengqin visa combo can aid tourism: trade rep
    Macau-Hengqin visa combo can aid...

    Mar 13, 2023  

  • Macau junket group urges govt to waive levy on commissions
    Macau junket group urges govt to waive...

    Feb 10, 2023  

More news
  • Pagcor chairman keynote speech at SiGMA Asia
    Pagcor chairman keynote speech at SiGMA...

    Mar 28, 2023  

  • 3-month eVisa plan to boost Vietnam tourism: report
    3-month eVisa plan to boost Vietnam...

    Mar 28, 2023  


Latest News

Pagcor chairman keynote speech at SiGMA Asia

Pagcor chairman keynote speech at SiGMA Asia

Mar 28, 2023  

Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
Read More
3-month eVisa plan to boost Vietnam tourism: report

3-month eVisa plan to boost Vietnam tourism: report

Mar 28, 2023  

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us