Macau government grants six month license extension to MJC
The Macau Horse Racing Company Ltd has been granted a six-month extension of its betting license by the Macau Special Administrative Region (SAR) government.
In September 2015, despite a decade of financial losses, the government extended the horse-betting concession for Macau Horse Racing Co. Ltd., which operates Macau Jockey Club (MJC), for two additional years. That license was due to expire on August 31, the same as the contract prior to that which was renewed in 2005. Asia Gaming Brief reports that according to local media, development plans submitted by the Macau Jockey Club close to the license expiry date are still being looked at by the Macau government.
Since 1978 the monopoly for horseracing betting in the city has been held by Macau Horse Racing Co. Ltd.
Asia Gaming Brief reports that in response to the Macau Daily Times, the Gaming Inspection and Coordination Bureau (DICJ) said that “the latest revised proposal submitted by the MJC contained development plans that involved the work of several other government departments, and considering that when the time the above revised proposal was submitted was very near to the Concession Contract expiry of the MJC, the MSAR Government, therefore, decided to grant a six-month extension to the MJC Concession Contract so as to provide adequate time for the relevant departments to conduct studies and analysis on the MJC proposal.”
The current contract was by executive order extended until February 28, 2018, as announced in the official gazette.