The SAR government has terminated, through a mutual agreement, the horse-racing concession with the Macau Jockey Club.
From April 1, horse-racing activities will cease from that date, as announced in a press conference today.
The MSAR Government in 2018 signed with the company an extension of the city’s horse-racing concession for a period of 24 years and six months, running from March 1, 2018 to August 31, 2042.
However, last year, the company submitted a request to the MSAR Government regarding termination of its horse-racing concession, citing the company’s operational difficulties, and the inability of horse-racing activities to meet the current development needs of society.
Taking this into consideration, and after a thorough study, the government has decided to accept the Macau Horse Race Company’s application, said the the Secretary for Administration and Justice, André Cheong said yesterday.
The decision of the termination of the contract with the group was a “realistic” one.
In a press conference organized by the government to clarify the decision and advance the upcoming procedures, Cheong noted that the decision was taken after long consideration and negotiations between the government side and the company, conversations that started with an expression of intentions of the company to stop operations to which followed later a formal application for the contract termination, he said.
To be updated
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