MJC must comply with law, finance secretary says
Economy secretary Lei Wai Nong says operators must meet legal obligations amid uncertainties surrounding the Macau Jockey Club’s future.
Macau.- Macau’s secretary for economy and finance, Lei Wai Nong, has reiterated the importance of compliance with legal obligations amid ongoing discussions about the future of the Macau Jockey Club (MJC).
The MJC has faced scrutiny for its alleged failure to provide updates on the progress of its MOP1.5bn (US$185.65m) redevelopment plan, which formed the basis for its new concession granted in 2018, running until 2042. The plan included investments in upgrading facilities, creating non-gaming amenities such as commercial areas, restaurants, hotels an equestrian school, and more. Some of these projects have deadlines extending until 2026.
Despite speculation about its future, Macau authorities have approved the 2023/2024 race season schedule. Secretary Lei refrained from commenting on market rumours and emphasised that the Gaming Inspection and Coordination Bureau (DICJ) would conduct its regulatory work in accordance with legal provisions.
