The Macau Jockey Club announced on Monday that it had signed an agreement with the Macau Government to terminate the contract to race there.
“Macau Horse Racing Company Limited has been operating at a loss, accumulate in excess of 2.5 Billion (NZ$501 million),” MJC said in a statement.
“Moreover, there has been limited room for development and growth of the horse racing industry in Macau over the years, and including the adverse effect brought about by pandemic over these last three years, it has become increasingly difficult to sustain the operations.
“The Board of Directors has had to make a difficult decision, and commencing from April 1, 2024, the company will cease all racing related operations. However, the current member facilities will remain available to the Club’s members.”
The news comes in the wake of Singapore Turf Club’s announcement last year that racing would cease there in October, 2024.
The MJC currently employs 570 staff and has approximately 205 horses racing in its jurisdiction, well below its one-time peak population figure of 1200 horses.
