The government and the Macau Jockey Club (MJC) have agreed to add an appendix to the horse racing exclusive contract, according to a notice published in the Official Gazette yesterday.
Relevant provisions include that “as one of the conditions for extending the concession to August 31 of 2042, the contractor shall perform in good faith the implementation of the investment plan submitted to the government and the prescribed obligation regulated by the contract to change the company’s capital, and use the relevant money for the investment and construction projects specified in the investment plan.”
MJC is expected to complete the investment and construction projects listed in its investment plan before the deadline.
In total, there are 12 investment plans, including the refurbishment of the horsing swimming pool, which has been completed.
The major renovation of the stables should be completed before 31 December of 2019.
The refurbishment of the first floor of the event building, which should have been completed before 31 December 2018, is not yet completed. The refurbishment works on the second through to fifth floors of the building should be completed before the end of 2019.
The replacement of the computer project is supposed to be finished before December 31 of 2021.
The improvement of the runway should be completed on or before December 31 2021.
The construction of the pedestrian atrium, the catering and retail shops, the car park and the cargo unloading area in Area 1 should be completed by the end of 2024.
In Area 2, the two hotels and two apartment-style hotels and tennis courts that will be built should be completed before December 31, 2026. In Area 2, there will be members facilities, VIP lounges, shops, and office buildings. The projects should be finished before December 31 2025.
In Area 3 and Area 4, the horse racing theme park (together with a riding school) and another public entrance will be built. The construction of these projects is expected to be completed by the end of 2026.
Also in Area 4, a construction project is planned to be finished before December 31 2024 which connects the Light Rapid Transit to Area 1.
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