Macau Authorities Shut Down Racing Due to Massive Losses: Racing Post

The decision to shut down horse racing in Macau has left many questioning whether the industry can be revived. Singapore, another previously thriving racing jurisdiction in Asia, is also scheduled to end racing this year. The lack of promotion and cancellation of horse imports to Macau has led to diminishing fields and concerns about the long-term future of racing. The closure of the Macau Jockey Club (MJC) will affect 570 employees and the 290 horses will be moved to mainland China or other countries. The Macau government claims that horseracing has not yielded the intended socio-economic benefits. The MJC’s director of racing acknowledges that the closure was expected due to recent actions, but expresses sadness and promises to ensure the welfare of the remaining horses. The MJC’s betting concession contract, initially granted in 1978, was rescinded by the Macau SAR government due to the club’s financial losses and failure to repay debt. The club has been battling financial problems for years and suffered further losses due to the impact of Covid.