The Macau Jockey Club (MJC) has said in a letter to a group of horse owners who previously subscribed to a petition to the company that the company is “unable to accommodate the requests for compensation,” claiming that on top of the company’s financial difficulties, the company needs to comply with the agreement made with the local government.
Such an agreement includes the provisions that the company continues to be in legal possession of all the facilities as well as in charge of the horses for one year commencing on April 1, 2024, a period in which they need to provide a proper relocation of all horses to outside Macau.
As the company explained in the same letter, this carries an additional financial load as it involves keeping on a high number of staff members to operate the facilities and manage the horses while they need also to compensate those who will lose their jobs.
In the petition subscribed by several horse owners and submitted to the MJC on February 7, they claimed compensation based on the value of the horses, as they said they “have already given up [on] shipping the animals out of Macau.”
The horse owners justified the compensation based on the investments made in the acquisition of horses for racing purposes under the promise that the MJC would operate for at least another 20 years.
In the response letter, MJC notes that such investments, related to the acquisition of horses, carry risks and that the horse owners were well aware of the financial situation of the MJC and of the non-profitable activity of horse racing in Macau, stating that horse owners decided to invest in the activity at their own risk.
The exchange of letters seems to open the way to a conflict between horse owners and the MJC that is likely to have soon further developments.
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