Rumors are swirling that the Macau Jockey Club (MJC) could be forced to close as early as this month.
According to Asian Racing Report, the club’s equine stock has fallen from 1,200 in 2003 to 220 now, and the number of races per year has dropped from 1,200 to a single meet and several races each week.
Sources told the outlet that local lawmakers are demanding that MJC Chairwoman Angela Leong “show cause” for the club’s failure to upgrade its facilities, as required under the 24-year concession extension that took effect in February 2018.
MJC says it’s renovated a hydrotherapy pool and also improved stables, along with completing some upgrades to parts of the main racing building, the track itself and computer systems.
Even so, one trainer told ARR, “We still haven’t heard when the first meeting of next season will be and we would normally know by now. We are hearing that staff cuts could be coming soon. We do not know what is happening. Is the club cutting costs in an effort to keep going? Or is it a sign that the end is near? Even the officials don’t seem to know. We just want clarity.”
In another concerning sign, MJC employees told Inside Asian Gaming the track hasn’t added staff since the pandemic ended and is no longer recruiting new personnel. In July, 30 horses slated to be shipped to Macau from Australia were not accepted on orders of Macau authorities.
The MJC recently reported losses of MOP$2.1 billion (US$260 million) through 2022 and a decline in racing revenue to MOP$39 million (US$4.8 million), a decline of US$1 million from 2021.
In 2018, MJC promised to invest MOP$1.5 billion (US$186 million) to upgrade facilities, including hotels and restaurants, in return for the 24-year extension through August 2042. Per IAG, the lengthy concession term was meant to help the MJC stabilize its financial position. The Macau Horse Racing Co. has posted losses every year since 2005. Management said it wants to make the MJC a “must-visit tourism and entertainment landmark for both tourists and local residents.”
Singapore recently shut down its racing industry with the pending closure of the Singapore Turf Club. That facility will host its final race meet in October 2024. Its 296 acres of land will be repurposed.
