Grand Prix budget remains unchanged at MOP200 million

Alvin Chau (center left) and Pun Weng Kun (center right)

The 63rd edition of the Macau Grand Prix will receive more  financial support from its title sponsor. In a ceremony held at Macau Tower, it was announced that the total budget of about MOP200 million (similar to the one of the previous edition) will see an increase of the sponsor’s participation to MOP20million (six million more than in 2015).
For the third consecutive year, the Suncity Group will be the title sponsor of the region’s biggest sporting event. The agreement was signed during the ceremony by Suncity group’s CEO, Alvin Chau and the president of the Sports Bureau (ID), Pun Weng Kun. The Secretary for Social Affairs and Culture and president of the new Macau Grand Prix Organizing Committee, Alexis Tam, was also part of the ceremony.
“We will once again combine our abundant local tourism and cultural resources with the event to bring a versatile sport-travel experience to local residents, visitors and fans all over the world,” said the ID president Pun Weng Kun.
Suncity Group’s Alvin Chau expressed hopes that this Grand Prix edition will be the most remarkable one, adding that the junket operator “is committed to continue to sponsor local sports and cultural activities.”
Questioned by the media on the sidelines of the agreement signing ceremony, regarding the possible influence of the current downturn of VIP gaming in terms of participation in and sponsorship of local racers and support for races, Pun said: “I think there is still a good environment. There are no major changes. According to our experience and information from the participants I think [the number of participants] will not be affected.”
The organizing committee is still working on the race program and according to Pun “there are no major differences; the program will be basically the same,” adding that the organization hopes to “elevate the Formula 3 race to an even higher level.”
Questioned by the Times regarding any other activities that could bring more people to the event, Pun said the bigger priority of the new committee this year was regarding the promotion of the event during other sports events.
“The ID has been promoting the Grand Prix in several other sports activities. For example during the Volleyball Championship and in other sports events that we will have soon where we could disclose information about the Grand Prix,” the ID president concluded.
According to last year’s figures, the Grand Prix recorded a revenue record of MOP53million and was attended by over 80,000 spectators.
In order to break those records, many promotional events, with the collaboration of the Macau Government Tourism Office, in mainland China, Taiwan, Korea, Australia, France and the USA as well as in Shenyang, Zhaoqing, Shenzhen, Hong Kong and Nanjing have been held from April and will run until October.