from MOP1.9bn (US$240m)<\/a>\u00a0to MOP2.1bn (US$261.4m), with the impact of the Covid-19 pandemic and associated travel restrictions cited as one of the contributing factors. It has also invested in renovations. <\/p>\n\n\n\nThe Macau Jockey Club said it remains committed to fulfilling its obligations under the horse racing concession contract<\/strong> signed with the Macau SAR government. The club declared the completion of various renovation works outlined in the contract<\/strong>, including the construction of the MJC horse swimming pool, stables, floors one to five of the racecourse building, computer system replacements, and track improvements.<\/p>\n\n\n\nLooking towards the future, the club’s management expressed optimism amid the relaxation of entry regulations and increased visitor numbers in Macau.\u00a0 It said that it would take advantage of the opportunity and strive to make the Macau Jockey Club a “must-visit tourism and entertainment landmark for both tourists and residents”.<\/p>\n\n\n\n
The concession contract awarded to the Macau Horsing Racing Company was initially granted in 1978. The current lease was revised and extended until August 31, 2042<\/strong> despite criticism from the Legislative Assembly’s Follow-up Committee for Land Affairs and Public Concessions.<\/p>\n\n\n\nTo secure the licence renewal, the Macau Jockey Club has committed to investments <\/strong>to enhance facilities, constructing two hotels, smart stables, a horse theme park and a riding school. The company’s investment plan has been presented for evaluation.<\/p>\n","protected":false},"excerpt":{"rendered":"The club has advanced with renovation work.<\/p>\n","protected":false},"author":176,"featured_media":16856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Macau Jockey Club reported an increased loss of MOP2.1bn for 2022, attributed to pandemic impacts, while affirming its commitment to the SAR government concession contract. The club has completed significant renovations and outlined substantial future investments, including hotels and a theme park, to secure its license renewal until 2042 and transform into a tourism landmark.","focusai_entities":"Macau Jockey Club, Macau SAR government, Macau Horsing Racing Company, Legislative Assembly\u2019s Follow-up Committee for Land Affairs and Public Concessions","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.8), tech_data (0.7), marketing_crm (0.8), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concession Investment ROI","query":"What is the projected return on investment for the substantial capital expenditure committed by the Macau Jockey Club, particularly concerning the new hotels and theme park, and how will these investments impact the club's long-term GGR and NGR projections within the extended concession framework?"},{"label":"Regulatory Oversight Details","query":"Following the Legislative Assembly's criticism, what enhanced regulatory oversight mechanisms and governance frameworks will the Macau SAR government implement to ensure the Macau Jockey Club's adherence to its investment obligations and the terms of the extended concession contract?"}],"footnotes":""},"categories":[16338,163],"tags":[],"class_list":["post-777006306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777006306"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006306\/revisions"}],"predecessor-version":[{"id":777006341,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006306\/revisions\/777006341"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}